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In 2001, the Nobel prize in economics was awarded to George Akerlof, Michael Spence, and Joseph E. Stiglitz "for their analyses of markets with asymmetric information."
Read more about this topic: Information Economics
Famous quotes containing the word information:
“The real, then, is that which, sooner or later, information and reasoning would finally result in, and which is therefore independent of the vagaries of me and you. Thus, the very origin of the conception of reality shows that this conception essentially involves the notion of a COMMUNITY, without definite limits, and capable of a definite increase of knowledge.”
—Charles Sanders Peirce (1839–1914)
“We hear a great deal of lamentation these days about writers having all taken themselves to the colleges and universities where they live decorously instead of going out and getting firsthand information about life. The fact is that anybody who has survived his childhood has enough information about life to last him the rest of his days.”
—Flannery O’Connor (1925–1964)