Reflections on the 2016 Nobel Memorial Prize for contract theory (Oliver Hart and Bengt Holmström)

Authors

  • Nicolai J. Foss Bocconi University, Italy
  • Peter G. Klein Baylor University, United States

DOI:

https://doi.org/10.23941/ejpe.v9i2.234

Keywords:

Nicolai J. Foss, Peter G. Klein, Oliver Hart, Bengt Holmstrom, Nobel, economics

Abstract

The 2016 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel was awarded to Oliver Hart and Bengt Holmström “for their contributions to contract theory”. Nicolai J. Foss and Peter G. Klein reflect on Hart and Holmström’s work.

Author Biographies

Nicolai J. Foss, Bocconi University, Italy

Nicolai J. Foss is professor of organization theory at Bocconi University, Milano. His research focuses on organization design issues in strategic management and entrepreneurship theory. Foss is a member of Academia Europaea.

Peter G. Klein, Baylor University, United States

Peter G. Klein is professor of entrepreneurship at Baylor University’s Hankamer School of Business, adjunct professor of strategy and management at the Norwegian School of Economics, and Carl Menger Research Fellow at the Mises Institute. His research focuses on the links between entrepreneurship, strategy, and organization, with application to innovation, diversification, vertical coordination, health care, and public policy.

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Published

2016-12-22

How to Cite

Foss, N. J., & Klein, P. G. (2016). Reflections on the 2016 Nobel Memorial Prize for contract theory (Oliver Hart and Bengt Holmström). Erasmus Journal for Philosophy and Economics, 9(2), 167–180. https://doi.org/10.23941/ejpe.v9i2.234

Issue

Vol. 9 No. 2 (2016): Autumn 2016 (book symposium on McCloskey’s ‘Bourgeois Equality’)

Section

Special Contributions