In this chapter we discuss the lemons problem and its effect on the efficient functioning of a
Question:
In this chapter we discuss the lemons problem and its effect on the efficient functioning of a market. This theory was initially developed by George Akerlof. Go to www.nobelprize.org/nobel_prizes/economics/laureates/2001/#. This site reports that Akerlof, Spence, and Stiglitz were awarded the Nobel Prize in Economics in 2001 for their work. Read this report down through the section on George Akerlof. Summarize his research ideas in one page.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
The Economics of Money Banking and Financial Markets
ISBN: 978-0321785701
5th Canadian edition
Authors: Frederic S. Mishkin, Apostolos Serletis
Question Posted: