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Oliver Hart and Holmstrom win Nobel prize in Economics
Two Britishers Oliver Hart and Holmstrom win Nobel Prize in economics for their theories, contracts
Oliver Hart and Bengt Holmstrom won Nobel Prize in Economics for their contributions in contract theory and shown the solutions for the conflicts in the people through contract.
The other Nobel Prizes were announced last week which are Nobel Prize in Physics, Chemistry, Medicine and peace award.
The other Nobel Prize announcements will be concluded on Thursday.
Nobel Memorial prize in economics adopted in 1968 by Sweden’s Central Bank
Their theories include contacts relating to real- life contracts and institutions and potential pitfalls in the contract design.
Both of them will be awarded $8 million which they will share among themselves equally and they can collect them on the death anniversary of Alfred Nobel on 10th December 2016.
