Oliver Hart

Oliver Hart is a prominent British economist known for his work in contract theory and the economics of organizations. He focuses on how contracts influence the behavior of individuals and firms, especially in situations where not all outcomes can be predicted or specified. Hart's research helps explain how different ownership structures can affect incentives and efficiency in businesses. He received the Nobel Prize in Economic Sciences in 2016 for his contributions to understanding the complexities of contracts and their role in economic systems, which has important implications for law, business, and public policy.