George A. Akerlof, A. Michael Spence, Joseph E. Stiglitz: Markets with Asymmetric Information
AbstractAkerlof, Spence and Stiglitz's analyses form the core of modern information economics. Their work transformed the way economists think about the functioning of markets. The analytical methods they suggested have been applied to explain many social and economic institutions, especially different types of contracts. Other researchers have used and extended their original models to analyze organizations and institutions, as well as macroeconomic issues, such as monetary and employment policy.
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Bibliographic InfoPaper provided by Nobel Prize Committee in its series Nobel Prize in Economics documents with number 2001-2.
Length: 20 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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