What year did Spence, Akerlof, and Stiglitz win the Nobel Memorial Prize?
1991
2001
2011
1998
Answer
In 2001, George Akerlof, A. Michael Spence, and Joseph E. Stiglitz were awarded the Nobel Memorial Prize in Economic Sciences for their pioneering research on asymmetric information in the market. Their contributions reshaped our understanding of economic and social interactions when one party has more information than the other, laying the groundwork for further advancements in various economic fields.
Mastering Economics: The Michael Spence Quiz
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