Monday July 16, 2018

Nobel Economics Prize Awarded to Harvard Professor, MIT Educator

Last week, the committee also announced the Nobel prizes in medicine, physics, chemistry and the peace prize

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Harvard University professor Oliver Hart reads congratulatory emails after winning the 2016 Nobel Prize for Economics at his home in Lexington, Massachusetts, Oct. 10, 2016.(VOA)
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  • The new theoretical tools created by Hart and Holmstrom are valuable to the understanding of real-life contracts and institutions, as well as potential pitfalls in contract design
  • The announcement Monday by the Royal Swedish Academy of Sciences said their work in contract theory is “valuable to the understanding of real-life contracts and institutions, as well as potential pitfalls in contract design
  • The two will split the $924,000 prize. The laureates are set to officially receive the award on Dec. 10, the anniversary of prize founder Alfred Nobel’s death in 1896

October 12, 2016: Oliver Hart of Harvard University and Bengt Holmstrom of the Massachusetts Institute of Technology have been awarded the 2016 Nobel Prize in Economic Sciences.

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The announcement Monday by the Royal Swedish Academy of Sciences said their work in contract theory is “valuable to the understanding of real-life contracts and institutions, as well as potential pitfalls in contract design.”

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“This year’s laureates have developed contract theory, a comprehensive framework for analyzing many diverse issues in contractual design, like performance-based pay for top executives, deductibles and co-pays in insurance, and the privatization of public-sector activities,” the jury said.

Finnish Professor Bengt Holmstrom of the Massachusetts Institute of Technology smiles as he departs a news conference after speaking to members of the media, Oct. 10, 2016, on the campus of MIT in Cambridge, Mass.(VOA)
Finnish Professor Bengt Holmstrom of the Massachusetts Institute of Technology smiles as he departs a news conference after speaking to members of the media, Oct. 10, 2016, on the campus of MIT in Cambridge, Mass.(VOA)

The committee added that they analytical work establishes an “intellectual foundation” to grasp every day contracts in areas like bankruptcy legislation to political constitutions.

“The new theoretical tools created by Hart and Holmstrom are valuable to the understanding of real-life contracts and institutions, as well as potential pitfalls in contract design,” it said.

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The two will split the $924,000 prize. The laureates are set to officially receive the award on Dec. 10, the anniversary of prize founder Alfred Nobel’s death in 1896.

Last week, the committee also announced the Nobel prizes in medicine, physics, chemistry and the peace prize.

The final prize, for literature, will be announced Thursday.(VOA)

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FIFA World Cup 2018: Indian Cuisine becomes the most sought after in Moscow

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Indian cuisine in FIFA World cup
Indian dishes available in Moscow during FIFA World Cup 2018, representational image, wikimedia commons

June 17, 2018:

Restaurateurs Prodyut and Sumana Mukherjee have not only brought Indian cuisine to the ongoing FIFA World Cup 2018 here but also plan to dish out free dinner to countrymen if Argentina wins the trophy on July 15.

Based in Moscow for the last 27 years, Prodyut and Sumana run two Indian eateries, “Talk Of The Town” and “Fusion Plaza”.

You may like to read more on Indian cuisine: Indian ‘masala’, among other condiments spicing up global food palate.

Both restaurants serve popular Indian dishes like butter chicken, kebabs and a varied vegetarian spread.

During the ongoing FIFA World Cup 2018, there will be 25 per cent discount for those who will possess a Fan ID (required to watch World Cup games).

There will also be gifts and contests on offers during matches in both the restaurants to celebrate the event.

The Mukherjees, hailing from Kolkata, are die-hard fans of Argentina. Despite Albiceleste drawing 1-1 with Iceland in their group opener with Lionel Messi failing to sparkle, they believe Jorge Sampaoli’s team can go the distance.

“I am an Argentina fan. I have booked tickets for a quarterfinal match, a semifinal and of course the final. If Argentina goes on to lift

During the World Cup, there will be 25 per cent discount for those who will possess a Fan ID (required to watch World Cup games).

There will also be gifts and contests on offers during matches in both the restaurants to celebrate the event.

FIFA World Cup 2018 Russia
FIFA World Cup 2018, Wikimedia Commons.

“We have been waiting for this World Cup. Indians come in large numbers during the World Cup and we wanted these eateries to be a melting point,” he added.

According to Cutting Edge Events, FIFA’s official sales agency in India for the 2018 World Cup, India is amongst the top 10 countries in terms of number of match tickets bought.

Read more about Indian cuisine abroad: Hindoostane Coffee House: London’s First Indian Restaurant.

Prodyut came to Moscow to study engineering and later started working for a pharmaceutical company here before trying his hand in business. Besides running the two restaurants with the help of his wife, he was into the distribution of pharmaceutical products.

“After Russia won the first match of the World Cup, the footfall has gone up considerably. The Indians are also flooding in after the 6-9 p.m. game. That is the time both my restaurants remain full,” Prodyut said.

There are also plans to rope in registered fan clubs of Latin American countries, who will throng the restaurants during matches and then follow it up with after-game parties till the wee hours.

“I did get in touch with some of the fan clubs I had prior idea about. They agreed to come over and celebrate the games at our joints. Those will be gala nights when both eateries will remain open all night for them to enjoy,” Prodyut said.

Watching the World Cup is a dream come true for the couple, Sumana said.

“We want to make the Indians who have come here to witness the spectacle and feel at home too. We always extend a helping hand and since we are from West Bengal, we make special dishes for those who come from Bengal,” she added. (IANS)