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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:
“But while ignorance can make you insensitive, familiarity can also numb. Entering the second half-century of an information age, our cumulative knowledge has changed the level of what appalls, what stuns, what shocks.”
—Anna Quindlen (b. 1952)
“The information links are like nerves that pervade and help to animate the human organism. The sensors and monitors are analogous to the human senses that put us in touch with the world. Data bases correspond to memory; the information processors perform the function of human reasoning and comprehension. Once the postmodern infrastructure is reasonably integrated, it will greatly exceed human intelligence in reach, acuity, capacity, and precision.”
—Albert Borgman, U.S. educator, author. Crossing the Postmodern Divide, ch. 4, University of Chicago Press (1992)