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George Akerlof, Michael Spence Ve Joseph Stiglitz’in Asimetrik Bilgi Üzerine Katkıları

Year 2009, Volume: 4 Issue: 1, 113 - 124, 01.06.2009

Abstract

Nobel Economics Prize is given to the economists each year who contributed significant achievements in economics and contribution to the humanity. In 2001, the Royal Swedish Academy awarded the Nobel Prize in Economic Sciences to George A. Akerlof, A. Michael Spence ve Joseph E. Stiglitz, for academic life, especially their contributions to economic applications of asymmetric information. In this paper, I will analyze Akerlof, Spence and Stiglitz as a person and as an academician and their contributions to game theory and asymmetric information.

References

  • Akerlof, G. A. (1970), “The Market for Lemons: Qualitative Uncertainty and the Market Mechanism”, Quarterly Journal of Economics, Vol. 84, pp. 488-500.
  • Akerlof, G. A. (1980), “A theory of Social Custom of Which Unemployment May be One Consequence”, Quarterly Journal of Economics, Vol. 94, pp. 749-775.
  • Akerlof, G. A. (1982), “Labor Contracts as Partial Gift Exchange”, Quarterly Journal of Economics, Vol. 97, pp. 543-569.
  • Akerlof, G. A. And J. L. Yellen. (1990), “The Fair Wage Hypothesis and Unemployment”, Quarterly Journal of Economics, Vol. 105, pp. 255-283.
  • Atkinson, A. And J. E. Stiglitz. (1976a), “The Decision of Tax Structure: Direct versus Indirect Taxation”, Journal of Public Economics, Vol. 6, pp. 55-75.
  • Bewley, T. (1999), Why Wages Don’t Fall During a Recession, Cambridge, MA: Harvard University Press.
  • Dasgupta, P. And J. E. Stiglitz. (1980a), “Uncertainty, Market Structure and the Speed of Research and Development”, Bell Journal of Economics, Vol. 11, pp. 1-28.
  • Dixit, A. And J. E. Stiglitz. (1977), “Monopolistic Competition and Optimal Product Diversity”, American Economic Review, Vol. 67 (3), pp. 297-308.
  • Fehr, E. And K. M. Schmidt. (1999), “A Theory of Fairness, Competition and Cooperation”, Quarterly Journal of Economics, Vol. 114, pp. 817-868.
  • Grossman, S. And J. E. Stiglitz. (1980b), “On the Impossibility of Informationally Efficient Markets”, c, Vol. 70 (3), pp. 393-408.
  • Mirrlees, J. (1971), “An Exploration in the Theory of Optimal Income Taxation”, Review of Economic Studies, Vol. 41, pp. 261-278.
  • Riley, J. (1975), “Competitive Signaling”, Journal of Economic Theory, Vol. 10, pp. 174-186.
  • Rothschild, M. And J. E. Stiglitz. (1976b), “Equilibrium in Competitive Insurance Markets: An Essay on the Economics of Imperfect Information”, Quarterly Journal of Economics, Vol. 90, pp. 629-649.
  • Schapiro, C. And J. E. Stiglitz. (1984), “Equilibrium Unemployment as a Worker Discipline Device”, American Economic Review, Vol. 74 (3), pp. 433-444.
  • Spence, A. M. (1973), “Job Market Signaling”, Quarterly Journal of Economics, Vol. 87, pp. 355-374.
  • Spence, A. M. (1974), Market Signaling: Informational Transfer in Hiring and Related Processes, Cambridge, MA: Harvard University Press.
  • Spence, A. M. (1976), “Product Selection Fixed Costs, and Monopolistic Competition”, Review of Economic Studies, Vol. 43, pp. 217-235.
  • Spence, A. M. (1977), “Entry, Capacity, Investment and Oligopolistic Pricing”, Bell Journal of Economics, Vol. 8.
  • Stiglitz, J. E. (1974), “Growth with Exhaustible Natural Resources: Efficient and Optimal Growth Paths”, Review of Economic Studies, March 1974, pp. 132-137.
  • Stiglitz, J. E. And A. Weiss. (1981), “Credit Rationing in Markets with Imperfect Information”, American Economic Review, Vol. 71, pp. 393-410.
  • Stiglitz, J. E. And A. Weiss. (1983), “Alternative Approaches to the Analysis of Markets with Asymmetric Information”, American Economic Review, Vol. 73, pp. 246-249.
  • Vickrey, W. (1945), “Measuring Marginal Utility by Reactions to Risk”, Econometrica, Vol. 13, pp. 319-333.
  • Vickrey, W. (1961), “Counterspeculation, Auctions and Competitive Sealed Tenders”, Journal of Finance, Vol. 16, pp. 8-37.

GEORGE AKERLOF, MICHAEL SPENCE VE JOSEPH STIGLITZ’İN ASİMETRİK BİLGİ ÜZERİNE KATKILARI

Year 2009, Volume: 4 Issue: 1, 113 - 124, 01.06.2009

Abstract

Nobel Ekonomi Ödülü, ekonomi biliminde kaydedilen önemli başarıların insanlığa katkılarından dolayı her yıl bir veya birkaç ekonomiste verilmektedir. Nitekim 2001 yılında İsveç Kraliyet Bilimler Akademisi bu ödülü, akademik yaşamı boyunca özellikle asimetrik bilginin ekonomik uygulamaları üzerine yaptıkları çalışmaları için George A. Akerlof, A. Michael Spence ve Joseph E. Stiglitz'e vermiştir. Bu makalede öncelikle hem bir insan olarak Akerlof, Spence ve Stiglitz'in kendisini hem de akademik yaşamındaki yaşam serüvenine yer verilecek, daha sonra özellikle iktisat bilimine ve asimetrik bilgi ve oyun teorisi üzerine yaptıkları katkılar ayrıntılı olarak analiz edilecektir.

References

  • Akerlof, G. A. (1970), “The Market for Lemons: Qualitative Uncertainty and the Market Mechanism”, Quarterly Journal of Economics, Vol. 84, pp. 488-500.
  • Akerlof, G. A. (1980), “A theory of Social Custom of Which Unemployment May be One Consequence”, Quarterly Journal of Economics, Vol. 94, pp. 749-775.
  • Akerlof, G. A. (1982), “Labor Contracts as Partial Gift Exchange”, Quarterly Journal of Economics, Vol. 97, pp. 543-569.
  • Akerlof, G. A. And J. L. Yellen. (1990), “The Fair Wage Hypothesis and Unemployment”, Quarterly Journal of Economics, Vol. 105, pp. 255-283.
  • Atkinson, A. And J. E. Stiglitz. (1976a), “The Decision of Tax Structure: Direct versus Indirect Taxation”, Journal of Public Economics, Vol. 6, pp. 55-75.
  • Bewley, T. (1999), Why Wages Don’t Fall During a Recession, Cambridge, MA: Harvard University Press.
  • Dasgupta, P. And J. E. Stiglitz. (1980a), “Uncertainty, Market Structure and the Speed of Research and Development”, Bell Journal of Economics, Vol. 11, pp. 1-28.
  • Dixit, A. And J. E. Stiglitz. (1977), “Monopolistic Competition and Optimal Product Diversity”, American Economic Review, Vol. 67 (3), pp. 297-308.
  • Fehr, E. And K. M. Schmidt. (1999), “A Theory of Fairness, Competition and Cooperation”, Quarterly Journal of Economics, Vol. 114, pp. 817-868.
  • Grossman, S. And J. E. Stiglitz. (1980b), “On the Impossibility of Informationally Efficient Markets”, c, Vol. 70 (3), pp. 393-408.
  • Mirrlees, J. (1971), “An Exploration in the Theory of Optimal Income Taxation”, Review of Economic Studies, Vol. 41, pp. 261-278.
  • Riley, J. (1975), “Competitive Signaling”, Journal of Economic Theory, Vol. 10, pp. 174-186.
  • Rothschild, M. And J. E. Stiglitz. (1976b), “Equilibrium in Competitive Insurance Markets: An Essay on the Economics of Imperfect Information”, Quarterly Journal of Economics, Vol. 90, pp. 629-649.
  • Schapiro, C. And J. E. Stiglitz. (1984), “Equilibrium Unemployment as a Worker Discipline Device”, American Economic Review, Vol. 74 (3), pp. 433-444.
  • Spence, A. M. (1973), “Job Market Signaling”, Quarterly Journal of Economics, Vol. 87, pp. 355-374.
  • Spence, A. M. (1974), Market Signaling: Informational Transfer in Hiring and Related Processes, Cambridge, MA: Harvard University Press.
  • Spence, A. M. (1976), “Product Selection Fixed Costs, and Monopolistic Competition”, Review of Economic Studies, Vol. 43, pp. 217-235.
  • Spence, A. M. (1977), “Entry, Capacity, Investment and Oligopolistic Pricing”, Bell Journal of Economics, Vol. 8.
  • Stiglitz, J. E. (1974), “Growth with Exhaustible Natural Resources: Efficient and Optimal Growth Paths”, Review of Economic Studies, March 1974, pp. 132-137.
  • Stiglitz, J. E. And A. Weiss. (1981), “Credit Rationing in Markets with Imperfect Information”, American Economic Review, Vol. 71, pp. 393-410.
  • Stiglitz, J. E. And A. Weiss. (1983), “Alternative Approaches to the Analysis of Markets with Asymmetric Information”, American Economic Review, Vol. 73, pp. 246-249.
  • Vickrey, W. (1945), “Measuring Marginal Utility by Reactions to Risk”, Econometrica, Vol. 13, pp. 319-333.
  • Vickrey, W. (1961), “Counterspeculation, Auctions and Competitive Sealed Tenders”, Journal of Finance, Vol. 16, pp. 8-37.
There are 23 citations in total.

Details

Primary Language Turkish
Journal Section Articles
Authors

Yrd. Doç. Dr.şevket Alper Koç This is me

Publication Date June 1, 2009
Published in Issue Year 2009 Volume: 4 Issue: 1

Cite

APA Koç, Y. D. D. A. (2009). GEORGE AKERLOF, MICHAEL SPENCE VE JOSEPH STIGLITZ’İN ASİMETRİK BİLGİ ÜZERİNE KATKILARI. Bilgi Ekonomisi Ve Yönetimi Dergisi, 4(1), 113-124.