WBCS.LIVE practice question

The 2016 Nobel Prize in Economics was won by

Solve this multiple-choice question and check the correct answer with its explanation below.

Answer options

  1. Oliver Hart and Bengt Holmstrom
  2. Angus Deaton and Jean Tirole
  3. Patrick Modiano
  4. Arthur B. McDonald

Correct answer and explanation

Correct answer: Oliver Hart and Bengt Holmstrom

Explanation: ✅ Correct Answer: A) Oliver Hart and Bengt Holmstrom 📚 Explanation: The 2016 Nobel Prize in Economic Sciences was awarded to Oliver Hart and Bengt Holmström for their work on 'Contract Theory'. Their research provided valuable insights into how contracts help people deal with conflicting interests. This work has practical applications in areas like executive pay and the privatization of public services.