Bengt R. Holmström

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Bengt R. Holmström (2008)

Bengt Robert Holmström (born 18 April 1949, in Helsinki) is a Finnish economist who is currently the Paul A. Samuelson Professor of Economics at the Massachusetts Institute of Technology. He belongs to the Swedish speaking minority of Finland.

Holmström received his B.S. in mathematics and science from the University of Helsinki, a Master of Science degree in Operations Research from Stanford University in 1975, and his Ph.D. from the Graduate School of Business at Stanford. He has been on the faculty of M.I.T. since 1994. Holmström is particularly famous for his work on incentives under asymmetric information.

Holmström was a member of Nokia's board of directors from 1999 until 2012.[1][2] He is a member of the Board of the Aalto University. He is also a foreign member of the Royal Swedish Academy of Sciences since 2001.[3]



  • Holmström, Bengt, 1979. "Moral Hazard and Observability," Bell Journal of Economics, 10(1), pp. 74-91.
  • _____, 1982. "Moral Hazard in Teams," Bell Journal of Economics, 13(2), 324-340.
  • _____, 1983. "Equilibrium Long-Term Labor Contracts," Quarterly Journal of Economics, 98(Supplement), pp. 23-54.
  • _____, 1999. "Managerial Incentive Problems: A Dynamic Perspective," Review of Economic Studies, 66(1), 169-182.
  • Holmström, Bengt, and Paul Milgrom, 1991. "Multitask Principal-Agent Analyses: Incentive Contracts, Asset Ownership, and Job Design," Journal of Law, Economics, and Organization, 7, 24-52.
  • _____, 1994. "The Firm as an Incentive System," American Economic Review, 84(4), pp. 972-991.
  • Holmström, Bengt, and John Roberts, 1998. "The Boundaries of the Firm Revisited," Journal of Economic Perspectives, 12(4), pp. 73–94
  • Holmström, Bengt, and Jean Tirole, 1998. "Private and Public Supply of Liquidity," Journal of Political Economy, 106(1), pp. 1-40.