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by Erik Sherman
Going once, going twice—the winners of this year’s Nobel Prize in Economic Sciences are two Stanford economists whose work lets the world make mobile phone calls, switch on a light, and buy and sell on eBay.
Robert Wilson and Paul Milgrom, are famous for their groundbreaking work on auction theory. They took the 2,500-year-old practice of selling goods to the highest bidder and transformed how they worked and how the world looked at a result.
One of the major areas they developed was analysis of how the rules that govern auctions affect the efficiency of the outcomes—how bidders get the value they want, sellers maximize their income, and the process can happen more easily and quickly. Then they found ways to move beyond the fast-talking and gavel-banging stereotype of an auction and into many new types that new rules could enable.
“Sometimes the invisible hand of the
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New thought leadership focused virtual events bring together acclaimed industry and product experts delivering insights on boosting performance and satisfaction using analytics, automation, cloud and WFM
NICE (Nasdaq: NICE) today announced the launch of new virtual events presenting thought leadership and best practices for ensuring extraordinary experiences in the face of dynamic change. While many organizations have ensured business continuity by having employees operate remotely from home or in hybrid remote/in-office environments, neither the pandemic nor the pace of change is showing signs of abating. Agility in understanding the implications of change and swiftly making critical decisions that drive unparalleled customer and employee satisfaction is pivotal to business success. This series of virtual events, named ‘Agile Customer Experience: Leadership for a New Reality’ will demonstrate how organizations can leverage intelligent analytics, automation, cloud and WFM technology to deliver agile customer experiences that generate loyalty. For more information or to sign
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- For Hispanic Heritage month, Business Insider partnered with We Are All Human, a nonprofit championing diversity, equity, and inclusion, and the US Hispanic Chamber of Commerce to identify 10 Latinx business leaders driving change within their communities.
- From entrepreneurs making personal finance more accessible to Spanish speakers, to nonprofit founders helping young Latinx women achieve career success, these 10 leaders are working for change.
- Visit Business Insider’s homepage for more stories.
For Hispanic Heritage Month, Business Insider wanted to spotlight Latinx business leaders driving change not only through their work, but within their communities.
The Black Lives matter protests and the ongoing pandemic have led to louder and more effective calls for racial and ethnic equality in the US. The demand for action has spilled into the business world, where leaders across industries are starting to push for change and actionable reform.
To help us find Latinx leaders whose impact
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Cheap land may be driving a proliferation of grow-ops in rural eastern Ontario, one that’s seen Ontario Provincial Police charge dozens of people and seize tens of millions of dollars of illegal cannabis in just over two months.
In that time, the region’s seen 18 drug busts that have led to 126 people arrested on charges that they illegally grew cannabis.
Nearly 59,000 plants were seized in the busts — an approximate street value of at least $70 million — along with hundreds of kilograms of processed cannabis, guns, cash and production equipment.
Police estimate each plant is worth between $1,200 and $1,400. The raids took place between July 29 and Oct. 2, at mostly rural addresses within a few hundred kilometres of Ottawa.
At one mid-September bust of a large outdoor operation in McArthurs Mills, Ont., midway between Bancroft, Ont., and Renfrew, Ont., OPP charged 26 people
Tesco: online and local stores drive growth
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Tesco’s online business has grown by a whopping 90% across the three months to the end of August, driving overall food sales up by 9% and seeing pre-tax profits for the half year hit £551 million.
The shift to online is part of a wider change in shopping habits, which has seen consumers doing a large weekly shop online, then heading to local Tesco stores for a top up.
This has seen large store sales grow by just 1.4%, while the retailer’s local store portfolio has seen a 7.6% rise in sales across the period. Average basket sizes in large stores have, however, risen by 56% as shoppers make fewer trips.
However, with the surge in online happing more rapidly than expected and with these changes in shopper habits coming down the pipe, Tesco has also incurred a hefty £553 million bill for