Joseph E. Stiglitz

Joseph E. Stiglitz, 2001 Nobel Laureate in Economics, helped create the theory of markets with asymmetric information and was one of the founders of modern development economics. He played a leading role in an intellectual revolution that changed the characterization of a market economy. In the new paradigm, the price system only imperfectly solves the information problem of scarcity because of the many other information problems that arise in the economy: the selection over hidden characteristics, the provision of incentives for hidden behaviors and for innovation, and the coordination of choices over institutions.

Saved in:
Bibliographic Details
Main Author: Hoff, Karla
Language:English
Published: World Bank, Washington, DC 2008-01
Subjects:ADVERSE SELECTION, AGENCY PROBLEMS, AGGLOMERATION EFFECTS, AGRICULTURE, ASYMMETRIC INFORMATION, ASYMMETRIES OF INFORMATION, AVERAGE COSTS, AVERAGE PRODUCTIVITY, BANKRUPTCY, BANKS, BENCHMARK, BEST PRACTICES, BID, BUSINESS CYCLES, BUYERS, CAPITAL ACCUMULATION, CAPITAL MARKETS, CAPITAL OUTFLOWS, COMMODITIES, COMMODITY, COMPETITIVE ECONOMY, COMPETITIVE EQUILIBRIUM, CONFLICTS OF INTEREST, CONSUMER, CONSUMER CHOICE, CONSUMERS, CONTRIBUTION, CONTRIBUTIONS, COORDINATION FAILURES, CORPORATE GOVERNANCE, CREDIT MARKETS, CREDIT RATIONING, DAMAGES, DEBT, DEBTORS, DEBTS, DEVELOPING COUNTRIES, DEVELOPING COUNTRY, DEVELOPMENT ECONOMICS, DIMINISHING RETURNS, DISEQUILIBRIUM, DISTRIBUTION OF WEALTH, ECONOMIC ACTIVITY, ECONOMIC CRISES, ECONOMIC GEOGRAPHY, ECONOMIC GROWTH, ECONOMIC INEFFICIENCIES, ECONOMIC POLICIES, ECONOMIC RENTS, ECONOMIC THEORY, ECONOMICS, ECONOMICS OF INFORMATION, EFFICIENT MARKETS, EFFICIENT MARKETS THEORY, EFFICIENT OUTCOMES, EQUILIBRIUM PRICES, EQUILIBRIUM UNEMPLOYMENT, EQUITY MARKETS, EXPECTED RETURN, EXTERNALITIES, EXTERNALITY, FINANCIAL CRISIS, FINANCIAL MARKET, FINANCIAL STRUCTURE, FINANCIAL SUPPORT, FOREIGN DEBTS, FOREIGN INVESTORS, FREE CAPITAL, GAME THEORY, GOVERNMENT INTERVENTION, GOVERNMENT OWNERSHIP, GROWTH THEORY, HIDDEN ACTIONS, HOLDING, HOMEOWNERSHIP, IMPERFECT INFORMATION, INCENTIVE PROBLEMS, INCOME, INCOMES, INCOMPLETE MARKETS, INCREASING RETURNS, INCREASING RETURNS TO SCALE, INDIFFERENCE CURVES, INEFFICIENCY, INFLATION, INFORMATIONAL IMPERFECTIONS, INNOVATION, INSURANCE, INSURANCE COMPANIES, INSURANCE COMPANY, INSURANCE FIRMS, INSURANCE MARKET, INSURANCE MARKETS, INSURANCE POLICIES, INTEREST RATE, INTEREST RATES, INTERNATIONAL BANK, INTERNATIONAL TRADE, INVESTMENT DECISIONS, JOB LOSS, LABOR MARKET, LABOR MARKETS, LABOUR, LACK OF TRANSPARENCY, LENDER, LENDERS, LOAN, LOAN APPLICATIONS, LOW-INCOME, MACROECONOMIC FLUCTUATIONS, MACROECONOMIC STABILITY, MACROECONOMICS, MARGINAL COST, MARKET ECONOMIES, MARKET ECONOMY, MARKET EQUILIBRIUM, MARKET FAILURE, MARKET FAILURES, MARKET MECHANISM, MARKET PARTICIPANTS, MARKET PRICES, MATHEMATICS, MEDICAL CARE, MISSING MARKET, MISSING MARKETS, MONETARY FUND, MONETARY POLICIES, MONETARY POLICY, MONITORING COSTS, MONOPOLISTIC COMPETITION, MORAL HAZARD, MULTIPLE EQUILIBRIA, MULTIPLIER EFFECTS, NET WORTH, OPTIMAL CONTRACT, PARETO EFFICIENCY, PECUNIARY EXTERNALITIES, PER CAPITA INCOME, PERFECT INFORMATION, PERFECT MARKETS, POLITICAL ECONOMY, POLITICAL INSTITUTIONS, PORTFOLIOS, PRIVATE CAPITAL, PRIVATE PROPERTY, PROBABILITY, PRODUCTIVITY, PROVISION OF INFORMATION, PUBLIC ECONOMICS, PUBLIC FINANCE, PUBLIC GOODS, PURCHASES, RECESSION, RENTS, RISK MARKETS, RISK SHARING, RISK-AVERSE INDIVIDUALS, RISKY ASSETS, RULE OF LAW, SAVINGS, SEARCH COSTS, SENIOR, STOCK MARKET, TAX, TAXATION, TRANSACTION, TRANSITION COUNTRIES, TREASURY, UNEMPLOYMENT, UTILITY FUNCTION, VALUABLE, WAGE, WAGES, WEALTH, WELFARE ECONOMICS,
Online Access:http://documents.worldbank.org/curated/en/2008/01/8943669/joseph-e-stiglitz
https://hdl.handle.net/10986/6477
Tags: Add Tag
No Tags, Be the first to tag this record!