Oliver Hart e Bengt Holmstrom they received the award Nobel Prize for Economics. The two scholars, respectively Anglo-American and Finnish, mainly deal with the compensation and benefits that go to the top management of companies. The great favorite of the eve, the Frenchman Olivier Blanchard, remains empty-handed.
Hart, born in 1948, has taught at Harvard University since 1993 and is an expert in contract theory and corporate finance. He has worked as a US government consultant on some large corporate cases and his most successful book is “Firms, Contracts, and Financial Structure”.
Holmstrom, on the other hand, is born in Helsinki in 49. After graduating from his home country and graduating from Stanford, he headed the business studies department at MIT in Boston, where he still teaches today.
“The winners – reads the motivations of the Swedish Academy – have developed the theory of contracts, a comprehensive framework for analyzing various issues of contract architecture, such as performance-based compensation for top managers, deductions and co-payments in insurance and the privatization of public sector assets”. The two scholars will receive a prize, to be divided, of 8 million crowns.
