Bengt Holmström facts for kids
Quick facts for kids
Bengt Holmström
|
|
|---|---|
.jpg)
Holmström in 2016
|
|
| Born |
Bengt Robert Holmström
18 April 1949 |
| Institutions |
|
| Doctoral advisor |
Robert B. Wilson |
| Doctoral students |
Jonathan Levin |
| Awards | Nobel Memorial Prize in Economic Sciences (2016) |
Bengt Robert Holmström (born April 18, 1949) is a famous economist from Finland. He used to be a professor at the Massachusetts Institute of Technology (MIT). In 2016, he won the Nobel Memorial Prize in Economic Sciences along with Oliver Hart. They won for their important work on how agreements and contracts work.
Early Life and School
Holmström was born in Helsinki, Finland, on April 18, 1949. He is part of the Swedish-speaking group in Finland. He earned his first degree in math and science from the University of Helsinki in 1972.
Later, he moved to the United States in 1976. He got a master's degree from Stanford University in 1975. He then earned his PhD from Stanford's business school in 1978.
His Career and Ideas
Before becoming a professor, Holmström worked as a planner for companies from 1972 to 1974. He then taught at different universities. He was a professor at Northwestern University from 1979 to 1983. After that, he taught at Yale University from 1983 to 1994.
Since 1994, Holmström has been a professor at the Massachusetts Institute of Technology (MIT). He teaches about economics and management there.
Holmström is well-known for his ideas on something called principal-agent theory. This theory helps us understand how contracts work when one person (the principal) hires another person (the agent) to do something. For example, a company (principal) hires a manager (agent). His work helps explain how to design good contracts. These contracts make sure both sides act in a way that benefits everyone, even when things are uncertain.
He has also studied how companies are run and how to solve money problems during financial crises. He supported the government helping banks during the 2007–2008 financial crisis.
Holmström is a member of many important academic groups. These include the American Academy of Arts and Sciences and the Royal Swedish Academy of Sciences. He has also received honorary degrees from several universities.
From 1999 to 2012, Holmström was on the board of directors for Nokia. Nokia is a well-known Finnish company. He also served on the board of Aalto University from 2008 to 2017.
Awards and Honors
Holmström has received many awards for his work. In 2012, he won the Banque de France-TSE Senior Prize. He also won the Stephen A. Ross Prize in 2013.
In 2016, he received the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel. This is often called the Nobel Prize in Economics. He shared the prize with Oliver Hart. They were honored for their important ideas about how contracts and agreements work.
Personal Life
Bengt Holmström is married to Anneli Holmström. They have one son.
See also
In Spanish: Bengt Holmström para niños
