The 2016 Nobel Memorial Prize in Contract Theory

Schmidt, Klaus M. (2017): The 2016 Nobel Memorial Prize in Contract Theory. Collaborative Research Center Transregio 190, Discussion Paper No. 19

Abstract

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.

• Item Type: Paper
• Keywords: contract theory; nobel prize; optimal incentive schemes; incomplete contracts
• Faculties: Economics > Collaborative Research Center Transregio "Rationality and Competition"
• Subjects: 300 Social sciences > 330 Economics
• JEL Classification: B21, D23, D82, L20
• Language: English