A. Michael Spence, 1943-
Stanford economist. A. Michael Spence introduced one of the first models of
signaling in asymmetric information problems.
Michael Spence won the Nobel Memorial
Prize in 2001, alongside fellow pioneers George
Akerlof and Joseph
Stiglitz.
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Major Works of A. Michael Spence
- "Job Market Signalling", 1973, QJE
- "Competitive and Optimal Responses to Signals", 1974, JET
- Market Signaling, 1974
- "Product Selection, Fixed Costs and Monopolistic Competition", 1976, RES
- "Non-Linear Prices and Welfare", 1977, JPubE
- "Entry, Capacity, Investment and Oligopolistic Pricing", 1977, Bell JE
- "Investment, Strategy and Growth in a New Market", 1979, Bell JE
- "Notes on Advertising, Economies of Scale and Entry Barriers", 1980, QJE
- Competition in the Open Economy, with Caves and Porter, 1980
- Competitive Structure in Investment Banking, with Hayes and Marks, 1983
- "Cost Reduction an Industry Performance", 1984, Econometrica
- "Signalling in Retrospect and the
Informational Structure of Markets", 2001 [nobel]
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HET
- HET Pages: Asymmetric Information: Signalling
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Resources on Michael Spence
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