2001
George A Akerlof
Picture
(1940 - 0)
Nationality
USA
Area of specialisation
Economics of information
Price Motivation
For his analyses of markets with asymmetric information
Affiliation at the time of Award
Georgetown University
CONTRIBUTION
1 Studied markets where sellers of products have more information than buyers about product quality. He showed that low quality products squeeze out high quality products in such markets, and that prices of high quality may suffer as a result
PUBLICATIONS
1 The market for lemons: Quality, uncertainty, and the market mechanism (1970). 2 .An economic theorists book of the labour market (1984). 3 Efficiency wage models of the labour market (1986). 4 Exploration in pragmatic economics (2005). 5 Identity economics (2010).