search query: @author Weibull, J.W. / total: 3
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| Author: | Löfgren, K-G. Persson, T. Weibull, J.W. |
| Title: | Markets with asymmetric information: The contributions of George Akerlof, Michael Spence and Joseph Stiglitz |
| Journal: | Scandinavian Journal of Economics
2002 : JUN, VOL. 104:2, p. 195-211 |
| Index terms: | Economic theory Information Markets Models |
| Language: | eng |
| Abstract: | For more than two decades, research on incentives and market equilibrium in situations with asymmetric information has been prolific part of economic theory. The modern theory of markets with asymmetric information is based on the work of Nobel Prize winners: George Akerlöf (University of California, Berkeley), Michael Spence (Stanford University) and Joseph Stiglitz (Columbia University). This work has indeed transformed the way economists think about the functioning of markets. Their research has helped in understanding market phenomenon which could not be fully captured by traditional neoclassical theory. |
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