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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)
“Many more children observe attitudes, values and ways different from or in conflict with those of their families, social networks, and institutions. Yet today’s young people are no more mature or capable of handling the increased conflicting and often stimulating information they receive than were young people of the past, who received the information and had more adult control of and advice about the information they did receive.”
—James P. Comer (20th century)