Professor Bengt Holmstrom joined MIT's Department of Economics
in 1994, where he currently is the Paul A. Samuelson Professor
of Economics. He also has a joint appointment at the MIT Sloan
School of Management.
Professor Holmstrom received his undergraduate degree from the
University of Helsinki in 1972 and his Ph.D. from Stanford University
in 1978. He was elected member of the American Academy of Arts
and Sciences in 1994. He is a fellow of the Econometric Society,
a member of its council and executive committee, and a foreign
fellow of the Finnish Society of Sciences and Letters (1992).
He holds honorary doctorate degrees from the University of Vaasa
(1988) and the Stockholm School of Economics (1998).
Professor Holmstrom's research on the economic theory of the
firm, especially contracting and incentives, is internationally
recognised. He has written on organisational and incentive design,
executive compensation, capital management, labor contracting,
and most recently on the role of liquidity in asset markets and
the macroeconomy. He is an associate editor of several scholarly
journals, including Econometrica, the Journal of Law, Economics
and Organisation and the Review of Economic Design. He is a Research
Associate in the corporate finance program of the National Bureau
of Economic Research and a member of the executive board of the
Center for Economic and Policy Research.
Professor Holmstrom has been engaged as a consultant by several
companies, including McKinsey & Co, Northwest Airlines and
Nokia. He sits on the boards of Kuusakoski Oy, a major European
recycling company and Nokia, the leading supplier of mobile phones
and wireless equipment.