Oliver Hart, Bengt Holmstrom win Nobel prize in economicsSTOCKHOLM — 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. The economics prize is not an original Nobel Prize. The Nobel Prizes in medicine, physics, chemistry and the Nobel Peace Prize were announced last week. This year’s Nobel announcements will finish Thursday with the literature award. The laureates will collect them on December 10, the anniversary of prize founder Alfred Nobel’s death in 1896.

Source: Manila Bulletin October 10, 2016 10:30 UTC