Highlights 1 Oliver Hart and Bengt Holmstrom win the Nobel prize in economics. British-born Oliver Hart and Bengt Holmstrom of Finland won the Nobel prize in economics for their contributions to contract theory, shedding light on how contracts help people deal with conflicting interests. NOBEL MEMORIAL PRIZE IN ECONOMIC SCIENCESThe economics prize is not an original Nobel Prize. Formally called the Nobel Memorial Prize in Economic Sciences, it was added to the others in 1968 by Sweden's central bank. The Nobel Prizes in medicine, physics, chemistry and the Nobel Peace Prize were announced last week.

Source: India Today October 10, 2016 10:57 UTC