Americans Paul R. Milgrom and Robert B. Wilson won the Nobel Prize in economics on Monday for “improvements to auction theory and inventions of new auction formats,”reports AP.

The Nobel Prize for Literature is set to be awarded Thursday after several years of controversy and scandal for the world’s pre-eminent literary accolade, reports AP.

Two scientists won the Nobel Prize in chemistry Wednesday for developing a way of editing genes likened to “molecular scissors” that offer the promise of one day curing inherited diseases.