Oliver Hart and Bengt Holmstrom win the Nobel Prize

Hey, they announced it early this year!  Good thing I got up.  I’ll be revising a few (separate) posts throughout the morning, they will start out small and grow, so keep on hitting refresh.

These are theory choices in Industrial Organization, two very famous, well-deserving economists at the top of the field.  They focused on “theory of the firm,” internal organization, incentives,, and principal-agent problems.  More to come!

Here is the announcement.  After Jean Tirole two years ago, I wasn’t expecting another IO prize so soon…