This year's Laureates have been instrumental in establishing economic governance as a field of research. Elinor Ostrom provides evidence on the rules and enforcement mechanisms that govern the exploitation of common pools by associations of users. Her research has greatly enhanced our...

Nobel laureates in economics make their most important and creative contributionsbetween the ages of 29 and 38. The average creative age of Nobel economists is slightly belowthat of laureates in physics, and considerably younger than that of laureates in chemistry andmedicine/physiology. The...

Oliver Hart and Bengt Holmström were awarded the 2016 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel for their fundamental contributions to contract theory. This article offers a short summary and discussion of their path breaking work.