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Bengt Holmström: Nobel Prize in Economics for Breakthroughs in Understanding Incentives

Yesterday I woke up to the news that Bengt Holmström was awarded the Nobel Prize in Economics along with Oliver Hart. I have had the good fortune to have had Bengt as one of my PhD thesis advisors at MIT, together with my thesis chair, Erik Brynjolfsson and Birger Wernerfelt. All three of them were incredibly generous with their time, which is even more remarkable given that it became increasingly clear that I was not going to pursue an academic career.
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