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 is a famous economist from Finland. He was born on April 18, 1949. He used to teach economics at a big university called the Massachusetts Institute of Technology (MIT). In 2016, he won a very important award, the Nobel Memorial Prize in Economic Sciences, along with another economist, Oliver Hart.
Contents
Early Life and Education
Bengt Holmström was born in Helsinki, Finland. He is part of the Swedish-speaking people in Finland.
He studied mathematics and science at the University of Helsinki. He earned his first degree there in 1972. Later, he moved to the United States in 1976. He continued his studies at Stanford University. He received a master's degree in 1975. Then, he earned his Ph.D. from Stanford in 1978.
His Career in Economics
Bengt Holmström worked as a planner for companies early in his career. After that, he became a professor at several universities. He taught at the Hanken School of Economics in Finland. Then he moved to the United States. He taught at Northwestern University and Yale University.
Since 1994, Holmström has been a professor at Massachusetts Institute of Technology (MIT). He is well-known for his work on something called principal-agent theory. This theory helps us understand how contracts work. It looks at how one person (the "principal") can make sure another person (the "agent") does what they are supposed to do. This is especially important when there is uncertainty.
He also studied how companies are run. He looked at how to solve money problems during financial crises. For example, he supported the government's help for banks during the 2008 financial crisis.
Holmström has been a member of many important groups. These include the Finnish Society of Sciences and Letters. He was also the president of the Econometric Society in 2011. He has received special honorary degrees from several universities.
He also served on the board of directors for Nokia. This was from 1999 to 2012. He was also on the board of Aalto University.
Awards and Recognition
Bengt Holmström has received many awards for his work. In 2012, he won the Banque de France-TSE Senior Prize. He also received the Stephen A. Ross Prize in 2013.
His biggest award came in 2016. He won the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel. He shared this prize with Oliver Hart. They won for their important work on contract theory. This theory helps us understand how contracts are designed. It shows how they can encourage people to do their best.
Personal Life
Bengt Holmström is married to Anneli Holmström. They have one son.
See also
In Spanish: Bengt Holmström para niños
