The Art of Dealing with Fraud — Plain Talk on Information Economics

Author: None
Publisher:
Publish Date: 2004-04-01
Features: A Brief Introduction to the 2001 Nobel Prize in Economics – "The Study of How to Make People Tell the Truth and Keep Promises"
Information economics represents a major breakthrough in traditional economics. The three Nobel laureates 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 study of how to make people tell the truth and keep promises" because the existence of private information leads to information asymmetry. Information asymmetry leads to issues such as fraud, corruption, and insider trading. Professor Wang Zekuo introduces the fascinating content of information economics in plain and concise language, with vivid examples, making it easy for readers to understand. His writing is clear yet profound, revealing the wisdom of a scholar in lively instances.