Written by Keshala Dias
10 Oct, 2016 | 7:25 pm
Oliver Hart and Bengt R. Holmström won the Nobel Prize in Economics.
The two professors’ from Harvard and MIT have been awarded the Nobel Prize in economics for contributions to contract theory.
Oliver Hart, a British economist teaching at Harvard, and Bengt Holmström, a Finnish economist teaching at MIT, were announced as the winners Monday, October 10, by the Royal Academy of Sciences in Stockholm, Sweden.
Among the contracts they have studied is Holmström’s research on employment contracts, including between CEOs and shareholders, and Hart’s work on whether providers of public services, such as schools, hospitals, or prisons, should be publicly or privately owned.
Source – CNN
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