George Akerlof
From Wikipedia, the free encyclopedia
 George Arthur Akerlof |
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| Born | June 17, 1940 New Haven, Connecticut |
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| Residence |  USA |
| Nationality | American |
| Field | Economics |
| Institution | University of California, Berkeley |
| Alma mater | MIT (Ph.D.) Yale University (B.A.) |
| Academic advisor | Robert Solow |
| Known for | Information asymmetry Efficiency wages |
| Notable prizes |  Nobel Prize in Economics (2001) |
George Arthur Akerlof (born June 17, 1940) is an American economist and Koshland Professor of Economics at the University of California, Berkeley. He won the 2001 Nobel Prize in Economics (shared with Michael Spence and Joseph E. Stiglitz). His father was Swedish and his mother a Jewish American.
Akerlof is perhaps best known for his article, "The Market for Lemons: Quality Uncertainty and the Market Mechanism", published in Quarterly Journal of Economics in 1970, in which he identified the severe problems that may afflict markets characterized by asymmetrical information.
In Efficiency Wage Models of the Labor Market, Akerlof and coauthor Janet Yellen propose rationales for the efficiency wage hypothesis in which employers pay above the market-clearing wage, in contradiction to the conclusions of neoclassical economics.
In The Missing Motivation in Macroeconomics, Akerlof propose natural norms that decision makers have for how they should behave. In this lecture Akerlof propose a new agenda for macroeconomics with inclusion of those norms. This is George Akerlof's Presidential Address to the American Economic Association, delivered on January 6th, 2007.
Akerlof graduated from the Lawrenceville School and received his Bachelor's degree from Yale University in 1962, and his Ph.D. from MIT in 1966 and has taught at the London School of Economics. His maternal great-grandfather was born in Oakland, California and was an alumnus of UC Berkeley (Class of 1873). His maternal grandfather was also a Berkeley alumnus. His wife Janet Yellen is president of the Federal Reserve Bank of San Francisco and a professor of economics at UC Berkeley and served on President Bill Clinton's Council of Economic Advisors.
[edit] See also
[edit] External links
- Article on George Akerlof from Yale Economic Review
- Autobiography on Nobel E-museum
- Akerlof's Berkeley webpage
- Homepage
- Akerlof publications
- Akerlof's criticism of Bush
- Akerlof slams Bush government
- Akerlof biography
| Persondata | |
|---|---|
| NAME | Akerlof, George |
| ALTERNATIVE NAMES | |
| SHORT DESCRIPTION | Economist |
| DATE OF BIRTH | June 17, 1940 |
| PLACE OF BIRTH | New Haven, Connecticut |
| DATE OF DEATH | |
| PLACE OF DEATH | |
Categories: 1940 births | Living people | American economists | Swedish-Americans | Jewish American scientists | Nobel laureates in Economics | Academics of the London School of Economics | University of California, Berkeley faculty | Members and associates of the United States National Academy of Sciences | Fellows of the Econometric Society
