Contributions of Oliver Hart and Bengt Holmström to Contract Theory

Oliver Hart and Bengt Holmström were awarded the 2016 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel for their fundamental contributions to contract theory. This article offers a short summary and discussion of their path-breaking work.

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Bibliographic Details
Published inThe Scandinavian journal of economics Vol. 119; no. 3; pp. 489 - 511
Main Author Schmidt, Klaus M.
Format Journal Article
LanguageEnglish
Published Oxford John Wiley & Sons Ltd 01.07.2017
Blackwell Publishing Ltd
Subjects
Awards & honors
B21
Contract theory
Contracts
D23
D82
Economics
Hart, Oliver
Holmstrom, Bengt
incomplete contracts
L20
Nobel prize
optimal incentive schemes
THE NOBEL MEMORIAL PRIZE IN ECONOMIC SCIENCES, 2016
Theory
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Summary:Oliver Hart and Bengt Holmström were awarded the 2016 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel for their fundamental contributions to contract theory. This article offers a short summary and discussion of their path-breaking work.
Bibliography:Financial support by Deutsche Forschungsgemeinschaft through CRC TRR 190 is gratefully acknowledged.
ISSN:0347-0520
1467-9442
DOI:10.1111/sjoe.12245