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Andrew Michael Spence (born November 7, 1943) is a Canadian-American economist and Nobel laureate. [3] Spence is the William R. Berkley Professor in Economics and Business at the Stern School of Business at New York University, and the Philip H. Knight Professor of Management, Emeritus, and Dean, Emeritus, at the Stanford Graduate School of ...
Through his research on markets with asymmetric information, Michael Spence developed the theory of “signaling” to show hos better-informed individuals in the market communicate their information to the less well informed to avoid the problems with adverse selection.
Aug 9, 2021 · Learn about the life, education, achievements, and awards of A. Michael Spence, who won the 2001 Nobel Prize in Economics for his theory of market signaling. Find out how he applied his theory to labor markets, development economics, and monopolistic competition.
Bio. Spence is a senior fellow at the Hoover Institution and Philip H. Knight Professor and dean, emeritus, at Stanford Graduate School of Business. He is the chairman of an independent Commission on Growth and Development, created in 2006 and focused on growth and poverty reduction in developing countries.
Professor of Economics Em Stanford GSB, Senior Fellow, Hoover, Professor SDA Bocconi. Verified email at stanford.edu. informational structure of markets economic growth and development industrial organization.
The winners are Professor George Akerlof from the University of California Berkeley; Michael Spence, Stanford University; and Professor Joseph Stiglitz from Columbia University. They were awarded the prize for their analysis of markets with asymmetric information.
A. Michael Spence is a Nobel laureate, former dean of Harvard and Stanford business schools, and a distinguished visiting fellow at CFR. He writes and speaks on topics such as globalization, productivity, climate change, and trade.
