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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:
“Theories of child development and guidelines for parents are not cast in stone. They are constantly changing and adapting to new information and new pressures. There is no “right” way, just as there are no magic incantations that will always painlessly resolve a child’s problems.”
—Lawrence Kutner (20th century)
“When action grows unprofitable, gather information; when information grows unprofitable, sleep.”
—Ursula K. Le Guin (b. 1929)