George A. Akerlof, A. Michael Spence, Joseph E. Stiglitz: Information for the Public, Markets with Asymmetric Information
AbstractFor more than two decades, the theory of markets with asymmetric information has been a vital and lively field of economic research. Today, models with imperfect information are indispensable instruments in the researcher's toolbox. Countless applications extend from traditional agricultural markets in developing countries to modern financial markets in developed economies. The foundations for this theory were established in the 1970s by three researchers: George Akerlof, Michael Spence and Joseph Stiglitz. They receive the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel, 2001, "for their analyses of markets with asymmetric information".
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Bibliographic InfoPaper provided by Nobel Prize Committee in its series Nobel Prize in Economics documents with number 2001-1.
Length: 1 pages
Date of creation: 10 Oct 2001
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Find related papers by JEL classification:
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
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