Nobel Prize for… Contracts!

This is a big day for contracts!  First was the launch of the JOTWELL Contracts section – and now this – the Nobel Prize for Economics was awarded to Oliver Hart (Harvard) and Bengt Holmstrom (MIT) for their work on contracts!  Their work addressed how contracts could encourage mutually beneficial behavior, and had an influence on a range of contracts types, including employment contracts.  Congratulations to both!