Oliver Hart

Sir Oliver Hart is the Lewis P. and Linda L. Geyser University Professor at Harvard University in the Department of Economics, a position he has held since 1993, following appointments at the Massachusetts Institute of Technology (1985-1993), the London School of Economics (1981-1985), and earlier roles at the University of Cambridge and University of Essex. He earned a B.A. in Mathematics from King's College, Cambridge University in 1969, an M.A. in Economics from the University of Warwick in 1972, and a Ph.D. in Economics from Princeton University in 1974. During his tenure at Harvard, he served as Chairman of the Department of Economics from 2000 to 2003. Hart has also been President of the American Law and Economics Association and Vice President of the American Economic Association. His academic career spans contributions to Business & Economics, particularly in theoretical economics.

Hart's research centers on contract theory, the theory of the firm, corporate governance, and the roles that ownership structures and contractual arrangements play in determining corporate boundaries and governance. He developed the theory of incomplete contracts in the 1980s, analyses that have been significant for the governance of companies and the design of laws and institutions. In recognition of these contributions, he shared the 2016 Sveriges Riksbank Prize in Economic Sciences with Bengt Holmström. Among numerous honors, he is a Fellow of the Econometric Society, the American Academy of Arts and Sciences, the British Academy, the American Finance Association, and a member of the National Academy of Sciences; he was knighted in the 2023 King’s Birthday Honours. Key publications include his book Firms, Contracts, and Financial Structure (Oxford University Press, 1995), seminal papers such as "Incomplete Contracts and the Theory of the Firm" (1988), "Property Rights and the Nature of the Firm" with John Moore (1990), "A Theory of Firm Scope" with Bengt Holmström (2010), and recent articles like "Exit vs. Voice" (2022) and "Private Sanctions" (2024). Hart's theoretical work on firms and contracts has been used in several legal cases and shapes discussions on corporate social responsibility.

Professional Email: ohart@harvard.edu