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# Oliver Hart and Bengt Holmstrom Win the Nobel Prize in Economics

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<!-- video src="https://cdn.jwplayer.com/manifests/TCrdMvrI.m3u8" -->
## Video: Oliver Hart and Bengt Holmstrom Win the Nobel Prize in Economics

[Watch (HLS stream): Oliver Hart and Bengt Holmstrom Win the Nobel Prize in Economics](https://cdn.jwplayer.com/manifests/TCrdMvrI.m3u8) (0:35)

![Oliver Hart and Bengt Holmstrom Win the Nobel Prize in Economics](https://cdn.jwplayer.com/v2/media/TCrdMvrI/poster.jpg?width=720)

_Published 2016-10-10. British-born Oliver Hart and Bengt Holmstrom of Finland won the Nobel Memorial Prize in Economic Sciences for their contributions to contract theory, shedding light on how contracts help people deal with conflicting interests._


---

Jul 27, 2023 8:56 PM UTC

---

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### Nobel Prize Winners Studied How We Know Where We Are

---


## Transcript

The Royal Swedish Academy of Sciences has decided to award the Sumerius Risk Punk the prize in economic sciences in memory of Alfred Bell for 2016 to Oliver hart and Bangkok Strong for their contribution to contract theory. So this is very fundamental and the theories that Hart and Holmstrom have developed are incredibly important for us to understand these types of contracts in institutions.

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