For twenty years since the publication of his seminal paper ‘The market for “Lemonsâ€, George A. Akerlof’s work has changed the way economics is seen and understood, in particular, the economics of information. In abandoning the perfect-competition benchmarks of classical economics, the pragmatic modern economics championed by Akerlof has provided deep insights into markets, identity, discrimination, motivation and work, and into behavioural economics in ...
