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A comment on Oliver Hart and Bengt Holmstrom Win Nobel in Economics for Work on Contracts.

Re:Oliver Hart and Bengt Holmstrom Win Nobel in Economics fo... by nzjrs on Tuesday October 11, 2016 @02:37AM (#12682249)
It still baffles me there are no Nobel prizes for engineering, yet we have one for economics.
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Re:Oliver Hart and Bengt Holmstrom Win Nobel in Economics fo... by Hitard on Tuesday October 11, 2016 @09:46AM (#12684292)
Well, it was never the intention of Alfred Nobel to have a prize for Economics. The so-called "Nobel Memorial Prize in Economics" was established after a large donation from the Bank of Sweden in 1968, but has been regarded by many (including Nobel's grandson) as an inauthentic award.
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Re:Oliver Hart and Bengt Holmstrom Win Nobel in Economics fo... by jpfr on Tuesday October 11, 2016 @05:58PM (#12688870)
The Nobel price for economics was awared to quite a few mathematicians.

Leonid Kantorovich won it for applying his results in Operations Research [1] to planning the Russian economy.

John Nash won it for .. of course .. Game Theory.

[1] He proved criteria for the convergence of the Newton Method and quite a bit more. Those results are applied really everywhere nowadays.

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