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A Nobel prize for economic theory you can understand

Oct 10, 2016
Contract theory is all about putting incentives in the right place
IT Professor Bengt Holmstrom during a press conference at MIT announcing his shared Nobel Prize in Economics with Harvard Professor Oliver Hart on October 10, 2016 in Cambridge, Massachusetts. Holmstrom and Hart won the prize for their work on contract theory. 
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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.
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