Joseph E. Stiglitz

Joseph E. Stiglitz, 2001 Nobel Laureate in Economics, helped create the theory of markets with asymmetric information and was one of the founders of modern development economics. He played a leading role in an intellectual revolution that changed the characterization of a market economy. In the new...

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Main Author: Hoff, Karla
Format: eBook
Language:English
Published: Washington, D.C The World Bank 2008, 2008
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Online Access:
Collection: World Bank E-Library Archive - Collection details see MPG.ReNa
Summary:Joseph E. Stiglitz, 2001 Nobel Laureate in Economics, helped create the theory of markets with asymmetric information and was one of the founders of modern development economics. He played a leading role in an intellectual revolution that changed the characterization of a market economy. In the new paradigm, the price system only imperfectly solves the information problem of scarcity because of the many other information problems that arise in the economy: the selection over hidden characteristics, the provision of incentives for hidden behaviors and for innovation, and the coordination of choices over institutions
Physical Description:Online-Ressource (1 online resource (27 p.))