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MIT's Bengt Holmstrom and Harvard's Oliver Hart win Nobel prize in economics

Oct 10, 2016
The two were awarded for their work on contract theory.
From left to right: Tomas Sjoestroem, member of the Committee for the Prize in Economic Sciences in Memory of Alfred Nobel; Goran K. Hansson, Secretary General of the Royal Swedish Academy of Sciences; and Per Stromberg, Chairman of the Committee for the Prize in Economic Sciences in Memory of Alfred Nobel, attend a press conference at the Royal Swedish Academy of Sciences where they present the laureates for the Nobel prize in economics.
JONATHAN NACKSTRAND/AFP/Getty Images