Question
In 2016, the Nobel prize in Economics was awarded for :
The correct answer is
contributions to contract theory
Nobel Prize in Economics 2016 Focus
The Nobel Memorial Prize in Economic Sciences in 2016 recognized significant advancements in economic analysis.
Award Rationale
The prize was awarded for:
- Contributions to contract theory: This area of study examines how contracts shape economic relationships and influence organizational structures. It helps understand how incomplete contracts affect economic outcomes and how firms and institutions are designed to manage these limitations.
This specific research provided foundational insights into the challenges of designing efficient contracts and governance structures within organizations.
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Important Questions from Economics
- Absolute poverty and relative poverty are the types of:
- Hybrid method of accounting for price level changes is the mixture of combination of :
(i) Current Purchasing Power Method.
(ii) General Purchasing Power Method.
(iii) Current Cost Accounting Method.
(iv) First-in First-out Method. - The advantages of the cost concept is that, valuation of the asset does not depend on the __________.
- Who is the First Economist who pointed out that the pricing problem should be studied from the view point of time?
- The concept of perfect competition was introduced by __________.
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