Oliver Hart: Nobel Prize Conversations

Imagine you’re married, but you never discussed children with your partner beforehand. Then imagine your partner doesn’t want children, but you do. Your wedding day contract made no mention of kids, and legally everything is fine – but you’re still disappointed. Contracts are everywhere in society, and the example of children and marriage is just one example that shows that many contracts are - as Oliver Hart would say - incomplete.

In a conversation with The Nobel Prize’s Adam Smith, Hart explores the importance of words and language for a researcher, how being good at economics is about learning to THINK like an economist and how Oliver Hart’s parents influenced him to think that anyone who’s not left-wing is an idiot.

In 2016 Oliver Hart was awarded the Prize in Economic Sciences, together with the Finnish economist Bengt Holmström, for his contribution to contract theory.   

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