Author:
Schmidt, Klaus (University of Munich)
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
JEL-Classification:
B21; D23; D82; L20
Download:
The 2016 Nobel Memorial Prize in Contract Theory