Comment: what a Nobel Prize winner can teach us about the air cargo industry

The 2016 Nobel Memorial Prize in Economic Sciences was jointly awarded to Oliver Hart (pictured above) and Bengt Holmström for their contribution to ‘contract theory’, a subject that studies how economic actors enter contractual arrangements. The former is recognised for his work on researching the use of bargaining power in case of an asymmetric information. The latter is a specialist on the topic of incentives to guide behaviour.

Nobel Prize winners and the air cargo industry might seem as distant as ...