George Akerlof

Picture of George Akerlof

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George Akerlof tried his hand at once in a number of economic sectors ; one of them, ` ekonomiku` personality, he is to some extent created itself. Numerous achievements in the scientific field Akerlof made famous all over the world and helped him win the Nobel Prize.

Akerlof was born in New Haven, Connecticut, United States (New Haven,Connecticut, United States), in the family chemist, inventor G. Akerlof (Gosta Akerlof). George `s mother was Jewish, his father - a Swedish immigrant ; once they were living in Germany, however, the change of regime and the Jewish blood of his wife forced Akerlof Sr. take his family to the United States. Akerlof graduated from the school in 1958 ; in 1962-error status: 400listed on the board of Trustees of the Federal Reserve System ipochetnym school professor at the University of California, Berkeley business. Son of George Akerlof, Robert, now teaches economics at the University of Warwick.

One of the most famous works Akerlof was his article `The Market for Lemons: Quality Uncertainty and the Market Mechanism`.error status: 400Here, scientists analyzed a rational system output effective payment model in which the employer offers to pay more than in ` optimalnoy` on the established wage labor market. This model is pretty contrary to existing principles of neoclassical economics, however, and robust grain in itself clearly contained. More recently, Akerlof and Rachel Krenton (Rachel Kranton) created an entirely new sector of the economy - the economy of personality that exists at the intersection of formal economic analysis and the concept of social identity. Joint research Akerlof and Krentona assumedthat individuals are formed not only through a set of consumable goods and services, but also through some social norms that dictate the principles of their behavior - and, in konechnomitoge that define the very essence of their personalities. The first article on the subject published in the pages of `Quarterly Journal of Economics` in 2000.

After 90-Akerlof `s ideas found a rather unexpected application - they started to use in the discussions on the legality of abortion (and ` barrikad` on both sides). In his previous articles Akerlof argued that new technologies provoked the sexual revolution of the late 20century (like the modern means of protection techniques, or abortions) not only reduced the frequency of children born out of wedlock - but, in fact, this frequency increased. According to Akerlof, modern technology made it possible to revise the existing rules ; so abortion techniques allow to represent the child ,as primarily a result of the decision gave birth to his woman - that, in turn, makes it easier for men to take off every kind of responsibility for the child`s fate. Akerlof did not comment on the morality or legality of existing trends - which, however, did not prevent a ` prolayferam` ,and ` prochoyseram` take his ideas and theses adopted.

In 1993, Akerlof and Paul Romer (Paul Romer) describe a model, under certain conditions, to make a further development of the company`s unprofitable primarily by its owners - and provoking ` razgrablenie` company on its own. Later, however,Akerlof`s theory was challenged by a number of other economists

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A. Michael Spence  Facts_4
Akerlof 2003) george a. akerlof, “writing the #39the market for #39lemon…_2
American Economic Association_5
George Akerlof and Robert Shiller pose with their new book jacket_7
James Madison University  Phishing for Phools Nobel Prize ..._3
Looming Ahead  Finance amp Development, September 2014_8
Meeting with Prof. George Akerlof and Robert Akerlof_1
Meeting with Prof. George Akerlof and Robert Akerlof_9
Professor George Akerlof Lecture_10
Why #39Mr. Yellen#39 wants to protect you from yourself  The Globe ..._6.JPG