Hart e Holmström levam o Nobel de Economia 2016

Teoria dos Contratos! Foi a vez de Oliver Hart e Bengt Holmström.

O resultado está sendo transmitido por streaming no site da premiação.

Updates:

“I woke at about 4:40 and was wondering whether it was getting too late for it to be this year, but then fortunately the phone rang!”  — Oliver Hart, ao receber o anúncio.

“Holmstrom’s path to becoming one of the world’s leading economists on workplace incentives was an uncommon one.  In the early 1970s, Holmstrom was working in operations research for a conglomerate in Finland. Computers were beginning to enter the workplace, and Holmstrom was tasked with designing how companies could improve planning efficiency through the new technology” —  Evan Peterson.

“Hart and Holmstrom win a long overdue Nobel Prize for founding the field of Contract Theory. An unarguably splendid pick. The Hart-Holmstrom Nobel is all about economic theorists who re-engaged with the real world and all its imperfections. The old joke ‘it works in practice, but does it work in theory’ no longer applies. Hart and Holmstrom’s work is all about our messy reality. And a personal perspective: Hart taught me first year micro in grad school. Brilliant, engaging, thoughtful. And a profoundly nice guy, too” — Justin Wolfers.

“(Holmstrom) most famous paper is his 1979, Moral Hazard and Observability. This is probably the most elegant and most influential statement of how direct incentives and insurance value in a contract can conflict and hinder efficiency. Hart’s most famous piece, with Sandy Grossman, 1986, The Costs and Benefits of Ownership. Think of it as an extension of Ronald Coase and Oliver Williamson, also two Nobel Laureates (hey, that’s a lot of prizes for one topic area…)” — Tyler Cowen