George Akerlof, along with Michael Spence and Joseph Stiglitz, received the 2001 Nobel Prize “for their analyses of markets with asymmetric information.” Although much of economics is built on the assumption of perfect information, various economists in the past had considered the effects of imperfect information. Two giants in this area were ludwig von […]| Econlib
I was just settling back to work after a nice holiday vacation when my phone rang. It was the Undercover CISO. “Happy New Year, UC!” Of course, he was in his usual foul mood. “Hap…| Security Economics