This economist developed a general equilibrium model of agricultural economies in an early paper, "Incentives and Risk Sharing in Sharecropping". He helped develop a model that explains how involuntary unemployment persists, because it costs employers to monitor their workers' levels of effort. That model of efficiency wages is named for him and Carl Shapiro. This founder of the Initiative for Policy Dialogue also wrote a 2002 work that criticized the IMF for policies that harm developing countries. Along with Akerlof and Spence, this economist
This economist developed a general equilibrium model of agricultural economies in an early paper, "Incentives and Risk Sharing in Sharecropping". He helped develop a model that explains how involuntary unemployment persists, because it costs employers to monitor their workers' levels of effort. That model of efficiency wages is named for him and Carl Shapiro. This founder of the Initiative for Policy Dialogue also wrote a 2002 work that criticized the IMF for policies that harm developing countries. Along with Akerlof and Spence, this economist discussed screening as a way to ameliorate a condition in which one party to a transaction knows more than the other. For 10 points, name this sharer of the 2001 Nobel for his studies of information asymmetry, an economist at Columbia who wrote Globalization and its Discontents.
This economist developed a general equilibrium model of agricultural economies in an early paper, "Incentives and Risk Sharing in Sharecropping".
Joseph Stiglitz