Nobel Prize Winners and Information Economics

Today the Royal Swedish Academy announced the winner of the Nobel Prize in Economics. The works of the three economists sharing the prize (George A. Akerlof, A. Michael Spence, and Joseph E. Stiglitz) form the core of modern information economics.

Their theories help explain how markets perform when people have imperfect information (i.e. the boom in high-tech stocks during the 1990s - as well as its recent collapse).

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Comments to: CIPSNS Secretary.  Last modified: January 10, 2002