All Posts Tagged With: "information asymmetry"
Gun Control: An Economic Analysis
In Economics 101 we teach students about several fundamental concepts, including the relationship between means and ends, forward-looking behavior, the use of substitutes, opportunity cost, and the role of moral hazard. Further, we insist that these concepts can be used to help understand the world around us and have applicability far beyond the classroom. Yet, [...]
20Jan2009 | and Scott A. Kjar | 12 comments | ContinuedImperfect Knowledge
Three economists have won the Nobel Prize in economics for studying the “asymmetric” (uneven) distribution of information in markets. The winners are Joseph Stiglitz of Columbia University, George A. Akerlof of the University of California at Berkeley, and A. Michael Spence of Stanford University. As the prize committee and various commentators see it, Stiglitz, Akerlof, [...]
1Dec2001 | Sheldon Richman | 0 comments | ContinuedWhat We Know, When We Know it
Llewellyn H. Rockwell, Jr., is president of the Ludwig von Mises Institute in Auburn, Alabama. To outsiders, mainstream economics can look strange and obscure, or even silly and pointless. The mathematical techniques that dominate most academic journals can be intimidating in themselves. And they are all the more alarming since the subject matter of economics—people [...]
1May1997 | Llewellyn H. Rockwell Jr | 0 comments | Continued-
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