George A. Akerlof

Facts

George A. Akerlof

Photo from the Nobel Foundation archive.

George A. Akerlof

Born: 17 June 1940, New Haven, CT, USA

Affiliation at the time of the award: University of California, Berkeley, CA, USA

Prize motivation: "for their analyses of markets with asymmetric information."

Contribution: Studied markets where sellers of products have more information than buyers about product quality. He showed that low-quality products may squeeze out high-quality products in such markets, and that prices of high-quality products may suffer as a result.

Prize share: 1/3

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MLA style: George A. Akerlof – Facts. NobelPrize.org. Nobel Media AB 2018. Fri. 21 Sep 2018. <https://www.nobelprize.org/prizes/economics/2001/akerlof/facts/>

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