Why Is Contract Theory Important? 2 Economists From the Field Won the #NobelPrize. @cathyhwang47 of @Sjquinney Can Provide More Context to Media.

The field of contract theory is abuzz after news emerged this week from Stockholm that two economists from the U.S. won the Nobel Prize in economics. Oliver Hart and Bengt Holmström were honored for their work analyzing contracts in an effort to help people, businesses and public agencies better understand whether the deals they reach are in their best interests. Why is this a big deal for contract theorists?  University of Utah S.J. Quinney College of Law Professor Cathy Hwang is among the professionals in the small field of contract theory who is excited about the recent Nobel Prize announcement.  She can explain the significance of the Nobel Prize announcement from the perspective of someone who works in the field. From a broader standpoint, she can explain why the work is important to the public and how the field will continue to play an important role for the public in the future. Hwang’s research centers on business law, including mergers and acquisitions, deal structuring, and deal contracting. Her work on contracts and contract theory in the context of mergers and acquisitions, Unbundled Bargains: Multi-Agreement Dealmaking in Complex Mergers and Acquisitions, was recently published in the University of Pennsylvania Law Review.