2016 Nobel Prize in Economic Sciences

The Society proudly congratulates Oliver Hart (Econometric Society Fellow and Council member 1983-89; 1994-98), and its 73rd President, Bengt Holmström, for receiving the 2016 Nobel Prize in Economic Sciences for their work on contracts. Bengt Holmström was the Fisher-Schultz Lecturer in 1997 and Oliver Hart in 1988.

Oliver Hart

• Incomplete Contracts and Renegotiation, Econometrica 56(4), July 1988, p. 755-785, John Moore and Oliver Hart. 
• An Analysis of the Principal-Agent Problem, Econometrica 51(1), January 1983, p. 7-46, Oliver D. Hart and Sanford J. Grossman.
• On Shareholder Unanimity in Large Stock Market Economies, Econometrica 47(5), September 1979, p. 1057-1084, Oliver D. Hart.
• A Theory of Competitive Equilibrium in Stock Market Economies, Econometrica 47(2), March 1979, p. 293-330, Oliver D. Hart and Sanford J. Grossman.

Bengt Holmström

• Aggregation and Linearity in the Provision of Intertemporal Incentives, Econometrica 55(2), March 1987, p. 303-328, Bengt Holmström and Paul Milgrom.
• Efficient and Durable Decision Rules with Incomplete Information, Econometrica 51(6), November 1983, p. 1799-1820, Bengt Holmström and Roger B. Myerson.
• Groves' Scheme on Restricted Domains, Econometrica 47(5), September 1979, p. 1137-1144, Bengt Holmström.