Photo from the Nobel Foundation archive.
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."
Contribution: Showed that asymmetric information can provide the key to understanding many observed market phenomena, including unemployment and credit rationing.
Prize share: 1/3
See the list of all Nobel Prizes, awarded for "the greatest benefit to mankind."
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Medicine Laureate Shinya Yamanaka talks about the importance of taking risks.