The Laureates Daniel Kahneman http://www.princeton.edu/~psych/PsychSite/fac_kahneman.html Vernon L. Smith http://www.gmu.edu/departments/economics/ facultybios/smith.html   Behavioral and Experimental Economics Kagel, J.H. and A.E. Roth, (red.), “Handbook of Experimental economics”, Princeton University Press, 1995. Kahneman, D. and A. Tversky (1979), “Prospect theory: An analysis of decision under risk”, Econometrica 47, 263-291. Kahneman, D. and A. Tversky (red.), “Choices, Values and…

I was born in Gary, Indiana, at the time, a major steel town on the southern shores of Lake Michigan, on February 9, 1943. Both of my parents were born within six miles of Gary, early in the century, and continued to live in the area until 1997. I sometimes thought that my peregrinations made…

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Getting startedI was born during the second World War in Montclair New Jersey. This was more or less an accident (the location that is). My father was based in Ottawa as a member of the War Time Prices and Trades Board, the Canadian version of wartime price controls. That work entailed frequent trips to Washington…

German 10 Oktober 2001 hat beschlossen, den von der Schwedischen Reichsbank in Erinnerung an Alfred Nobel gestifteten Preis für Wirtschaftswissenschaften des Jahres 2001 gemeinsam zu verleihen an George A. Akerlof University of California at Berkeley, USA, A. Michael Spence Stanford University, USA, und Joseph E. Stiglitz Columbia University, USA, „für ihre Analyse von Märkten mit…

Swedish 10 oktober 2001 har beslutat att utdela Sveriges Riksbanks pris i ekonomisk vetenskap till Alfred Nobels minne år 2001 gemensamt till George A. Akerlof University of California at Berkeley, USA, A. Michael Spence Stanford University, USA, och Joseph E. Stiglitz Columbia University, USA “för deras analys av marknader med asymmetrisk information”. Marknader med asymmetrisk…

English 10 October 2001 has decided to award the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel, 2001, jointly to George A. Akerlof University of California at Berkeley, USA, A. Michael Spence Stanford University, USA, and Joseph E. Stiglitz Columbia University, USA “for their analyses of markets with asymmetric information”. Markets…

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French October 10, 2001 a décidé d’attribuer pour l’année 2001 le Prix de Sciences économiques créé par la Banque de Suède à la mémoire d’Alfred Nobel conjointement à George A. Akerlof University of California, Berkeley, USA, A. Michael Spence Stanford University, USA, et Joseph E. Stiglitz Columbia University, USA, “pour leurs travaux sur les marchés…

English Information for the Public For 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…