The Art of Dealing with Fraud: A Plain Talk on Information Economics: A Plain Talk on Information Economics

Author: Wang Zekuo
Publisher:
Publishing Date: 2001-01-01
Features: An Explanation of the 2001 Nobel Prize in Economics - "The Art of Making People Speak the Truth and Keep Promises"
Information economics is a major breakthrough in traditional economics. The three Nobel laureates in economics respectively delve into the issue of "information asymmetry" in fields such as markets, labor markets, insurance, and capital markets, pointing out that market mechanisms require perfection and design. Information economics is called "the art of making people speak the truth and keep promises" because the existence of private information creates information asymmetry. Information asymmetry leads to issues such as fraud, corruption, and insider trading. Professor Wang Zekuo introduces the fascinating content of information economics to readers in simple and clear language, using vivid examples. His writing is straightforward yet imbued with profound insights, revealing the wisdom of a scholar through lively instances.