British-born Oliver Hart and Finland's Bengt Holmstrom won the Nobel Economics Prize on Monday for work that addresses a host of questions from how best to reward executives to whether schools and prisons should be privately owned.
Their findings on contract theory have implications in such areas as corporate governance, bankruptcy legislation and political constitutions, said the Royal Swedish Academy of Sciences, which announced the 8 million Swedish crown ($928,000) prize.
British-born Oliver Hart and Bengt Holmstrom of Finland won the Nobel prize in economics for their contributions to contract theory, shedding light on how contracts help people deal with conflicting interests.
STOCKHOLM (Reuters) - UK-born Oliver Hart and Finland-born Bengt Holmstrom won the 2016 Nobel Economics Prize for "their contributions to contract theory", the Royal Swedish Academy of Sciences said on Monday.
Oliver Hart and Bengt Holmström just won the 2016 Nobel Memorial Prize in Economics. They were given the prize for work on contract theory, which is the study of how contracts and incentives influence decision-making and business re...
British-American economist Oliver Hart and Bengt Holmstrom of Finland on Monday won the Nobel Economics Prize for their work on contract theory, the jury said. "This year's laureates have developed contract theory, a comprehensive f...