Economists focused on the development of contract theory take Nobel honours.
The Nobel Prize for economics has been shared by two economists, each working on separate contract issues, one of them focused entirely on optimising executive pay.
British economist Oliver Hart, of Harvard University, made advances on "incomplete contracts", but Bengt Holmström's work in the 1970s addressed incentives for executives and how an employment contract should be designed using what is called the "informativeness principle".
Holmström's work was designed to specifically address the issue of agents undertaking wor
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One of the UK's most senior female business figures, Dame Helen Alexander, has died aged 60 from cancer. She served on the boards of many companies, and recently co-led a review into the number of women on FTSE350 boards.
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