Events at CERGE-EI

Monday, 16 March, 2020 | 11:00 | Public Lecture

RESCHEDULED: Public Lecture with Nobel Laureate Oliver Hart

Update 9.3.2020: THE LECTURE WILL BE RESCHEDULED. NEW DATE TO BE CONFIRMED. Thank you for your understanding.


Prof. Oliver Hart (Harvard University), 2016 co-recipient of the Nobel Prize in Economic Sciences, will visit CERGE-EI and give a public lecture: "A New Approach to Contracts". 

The event is supported by Nadace CERGE-EI.


Professor Hart will speak about the "formal relational contracts" that differ from that traditional contracts as they are designed to foster trust and collaboration among the parties. As real-life examples show, this new method of agreeing contracts might be successfully applied to build long-term complicated relationships like strategic alliances, joint ventures, franchises, public-private partnerships, major construction projects, and collective bargaining agreements. Unlike traditional contracts, formal relational contracts set up a relationship where the parties search for a mutually beneficial solution or a way to achieve their goals.