The 2016 Nobel Memorial Prize in Contract Theory

Klaus Schmidt ()

No 19, Rationality and Competition Discussion Paper Series from CRC TRR 190 Rationality and Competition

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.

Keywords: contract theory; nobel prize; optimal incentive schemes; incomplete contracts (search for similar items in EconPapers)
JEL-codes: B21 D23 D82 L20 (search for similar items in EconPapers)
Date: 2017-03-25
New Economics Papers: this item is included in nep-com, nep-exp, nep-his, nep-hpe and nep-hrm
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