Selected Papers of Akerlof, Spence, and Stiglitz

Author: Xie Kang
Publisher:
Publish Date: 2002-12-01
Features: This collection of essays includes seven representative papers by three economists. The seven papers are divided into three parts: First, three original papers: Acemoglu's "The Market for Lemons: Quality Uncertainty and Market Mechanisms," Spence's "Signaling in the Labor Market," and Michael Roscher and Stiglitz's "Equilibrium in Competitive Insurance Markets: An Essay on Asymmetric Information Economics." Second, two closely related applied papers: "Insurance, Information, and Individual Behavior," and "Credit Rationing in Markets with Imperfect Information." Third, two classic papers by Grossman and Stiglitz that introduced the "Grossman-Stiglitz Paradox."