Fiche du document
2018
- handle: 10670/1.2stt3t
- hal: hal-01952988
- doi: 10.3917/redp.284.0493
Ce document est lié à :
info:eu-repo/semantics/altIdentifier/doi/10.3917/redp.284.0493
Sujets proches
Contract law Contracts--Law and legislation Contractual limitations Limitations, Contractual Agreements Voluntary organizations Networks (Associations, institutions, etc.) Organizations Voluntary associations Institutions, associations, etcCiter ce document
Pierre Fleckinger et al., « Contract Theory in the Spotlight: Oliver Hart and Bengt Holmström, 2016 Nobel Prize Winners », HALSHS : archive ouverte en Sciences de l’Homme et de la Société, ID : 10.3917/redp.284.0493
Métriques
Partage / Export
Résumé
Oliver Hart and Bengt Holmström were awarded the 2016 Swedish National Bank’s Prize in Economic Sciences in Memory of Alfred Nobel for their contributions to the Theory of Contracts. Their works build a theory of firms and organizations that is based on two pillars: (1) Parties exert efforts or incur investments that increase the value of their relationships, but these actions are sometimes hidden, not directly observed, and thus cannot be contractually enforced by courts, and (2) contracts and ownership structures are (imperfect) responses to such informational frictions. Together, the contributions of these authors have paved the way for a complete renewal of the Theory of the Firm and Organizations Theory.