George A. Akerlof is the recipient of the 2001 Nobel Prize in Economics, along with fellow MIT greats Spence and Stiglitz. He was honored for his theory of information asymmetry and its impact on economic behavior. He is also lauded for his efficiency wage hypothesis, which indicates that wages are set by the efficiency goals of execs in addition to supply and demand forces.
1978 - 1980
1977 - 1978