Global Finance : Nobel Prize for Economics explainer

Oliver Hart and Bengt Holmstrom win the Nobel Prize in Economic Sciences of 2016, for their contribution to contract theory. But what is contract theory? How could we benefit from it? In an interview with Ivan Leung, financial planner, and director of Cowealth Kam Yuen is going to explain in a nutshell, what exactly is the contract theory.

File photo, Finnish Professor Bengt Holmstrom of Massachusetts Institute of Technology attends a business seminar in Helsinki, Finland. Source: Lehtikuva