Bengt Holmström is one of the world’s most influential economists and a long-time faculty member at the MIT. In 2016, the Finnish economist received the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel for his work on contract theory.
In granting the award, The Royal Swedish Academy of Sciences acknowledged that contracts “are essential to the functioning of modern societies” and how Holmström and fellow economist Oliver Hart made an invaluable contribution in “helping us understand real-life contracts and institutions, as well as the potential pitfalls when designing new contracts”.
At the STG, Holmström will teach in the Master in Transnational Governance, which offers international students a multidisciplinary programme focused on pressing international policy issues related to digitalisation, economy, politics, security and sustainability.
Reacting to his appointment, Professor Bengt Holmström said: “I’m excited to join the School of Transnational Governance part time. It gives me the opportunity to interact with top policy oriented scholars and students. I hope my research on contracts and organisations will contribute to discussions about public policy and governance at a time of great challenges and opportunities.”
Professor Alexander Stubb, Director of the STG, was delighted to welcome Holmström: “Bengt Holmström’s pioneering research has made real impact on societies worldwide. We are proud to welcome him among our growing faculty to bring students at the School of Transnational Governance the best mix of academic knowledge and decision-making experience.”
On 7 May 2021, during the upcoming The State of The Union conference, Bengt Holmström and Alexander Stubb will discuss the role of Europe in the global digital economy.
Photo credit: MIT