A story told by an economist: A collection of papers on the interesting results of new hypotheses in economic theory

Author: George Akerlof (USA)
Publisher:
Publish Date: 2006-06-01
Features: "A Story Told by an Economist" is an academic masterpiece published by Cambridge University Press in 1984 by George Akerlof. In the book, he systematically analyzes the phenomenon of information asymmetry and its impact on the economy. In the book, he conducts in-depth analyses of a series of issues such as the "lemon" market, racial economics, social customs, optimal tax systems, welfare programs, employment and unemployment, labor contracts, and loyalty, pointing out the root causes of modern economic problems such as market failure and market inefficiency in terms of information asymmetry. In the book, George Akerlof also addresses fundamental issues in information economics such as market signaling theory, myopic rationality theory, and adverse selection, and conducts pioneering research on them.