Economics Nobel Prize – Understanding 'Contract Theory'..

ByAshish Agrawal

Oct 13, 2016 #Bengt Holmstrom, #contract theory, #corporate finance, #fixed pay contract, #incomplete contract, #moral hazard, #Nobel prize, #oliver hart

The award of Nobel Prize to Oliver Hart and Bengt Holmstrom for economic science brings to light the concept of ‘Contract Theory’, hardly heard so far, let alone be understood..! As per the survey by the institution awarding the prize, 56% of the people did not know about ‘contract theory’. A brief attempt to understand […]

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