The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2001
George A. Akerlof, A. Michael Spence, Joseph E. Stiglitz
Joseph E. Stiglitz
Born: 9 February 1943, Gary, IN, USA
Affiliation at the time of the award: Columbia University, New York, NY, USA
Prize motivation: "for their analyses of markets with asymmetric information"
Field: economics of information
Contribution: Showed that asymmetric information can provide the key to understanding many observed market phenomena, including unemployment and credit rationing.