Harvard’s Oliver Hart wins economics Nobel
Harvard Professor Oliver Hart, the Andrew E. Furer Professor of Economics, is one of two recipients of the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel. Hart shares the award with Bengt Holmstrom of the Massachusetts of Technology, the Royal Swedish Academy of Sciences announced this morning. Hart works mainly on contract theory, the theory of the firm, corporate finance, and law and economics. His research centers on the roles that ownership structure and contractual arrangements play in the governance and boundaries of corporations. He has been at Harvard since 1993. In 2013, Martin Karplus ’51, the Theodore William Richards Professor of Chemistry Emeritus at Harvard, received the Nobel Prize in chemistry “for the development of multiscale models for complex chemical systems.” The 83-year-old, Vienna-born theoretical chemist shared the Nobel Prize with two others: Michael Levitt of Stanford University and Arieh Warshel of the University of Southern California, Los Angeles. With Hart’s award,...