Daniel Liberto is a journalist with over 10 years of experience working with publications such as the Financial Times, The Independent, and Investors Chronicle. Dr. JeFreda R. Brown is a financial ...

STOCKHOLM (AP) — Two U.S.-based professors won the Nobel prize in economics on Monday for studying how to best design contracts, work that sheds light on when it makes sense to give a CEO a bonus or ...

Social contract theory is an ancient philosophical idea that states that an individual's ethical and political obligations relate to an agreement he has with every other individual within a society.

Contracts permeate our lives: just think of the contract with your employer or your insurance provider or your bank to get a loan — even your marriage is a contract. But why are they designed the way ...

https://doi.org/10.1111/j.1468-2508.2006.00444.x • https://www.jstor.org/stable/10.1111/j.1468-2508.2006.00444.x Copy URL Social contract thought has always ...

The 2016 Nobel Prize in Economics was awarded Monday to Oliver Hart and Bengt Holmström for their work in contract theory — developing a framework to understand agreements like insurance contracts, ...