Bengt Holmstrom, Olive Hart win 2016 Nobel Prize in Economics

Bengt Robert Holmstrom and Olive Hart have won the 2016 Nobel Prize in Economic Science for their contribution to the Contract Theory.

Oliver Hart was born in 1948 in London and did his PhD in 1974 from Princeton University, US.

Hart completed M.A. in Economics from Warwick University in 1972. He did his B.A. in Mathematics in 1969 from (King's College) Cambridge University.

Bengt Holmstrom was born in 1949 in Helsinki, Finland.

He completed his Ph.D. in 1978 from Stanford University, US.  Holmstrom did B.S from University of Helsinki in 1972.

He completed M.Sc from Stanford, 1975 in Operations research.

The noted academicians will share the prize amount of 8 million Swedish krona equally.