What does "contract law" involve, and why were Dr. Holmstrom and Dr. Hart awarded a Nobel Prize for their efforts in studying it?
Radio Spot Broadcast via Texas State Networks on October 11, 2016

Dr. Perryman says two American scholars, Oliver Hart and Bengt Holmstrom, won this year's Nobel Prize for Economics for their contributions to contract law.

Let's Make A Deal!!
Column Published in syndication October 12, 2016

Every year, the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel (more commonly known as the Nobel Prize in Economics) is awarded to an individual or individuals whose ideas and research have increased our understanding of important issues in economics and related areas. This year's recipients, Oliver Hart of Harvard University and Bengt Holmstrom of Massachusetts Institute of Technology, were awarded the prize for their contributions to contract theory.