Blog Archives

A Scorecard to Keep Track of Players and Their Agents

|
Posted in Contemporary economics, History of economics Tagged with: , , ,

The Who? among those recognized by a Nobel Prize in the Economic Sciences is seldom surprising. It’s the when that usually catches auditors unaware. Take contract theory, and the work by Oliver Hart, of Harvard University, and Bengt Holmström, of the Massachusetts Institute of Technology, that the Royal Swedish Academy of Sciences cited yesterday. As Paul Krugman, himself a Nobel laureate, tweeted yesterday, “Hart and Holmström so obviously deserving that my first thought was, ‘Didn’t they have it already?’” For a summary of the committee’s reasoning, see its popular summary, or read the full citation. It was forty years ago