George A. Akerlof, A. Michael Spence, Joseph E. Stiglitz
Writing the "The Market for 'Lemons'": A
Personal and Interpretive Essay
by George A. Akerlof
I wrote "The Market for awarded the Prize in Economics) during my !rst year
as assistant * "
Journal of Economic PerspectivesVolume 12, Number 4Fall 1998Pages 115132
Incentives in Organizations
n 1975, Steven Kerr published On the Folly of Rewarding A, While Hoping for
B. The argument was simple: you get what you pay for. Kerr di
BY ARMEN A.
ALCHIAN AND HAROLD DEMSETZ*
The mark of a capitalistic society is that
resources are owned and allocated by such
nongovernmental organizations as firms,
households, and markets. Resource
Lecture Note 4: Make, Buy, or Cooperate?1
In 1937, Ronald Coase argued that firms will exist only in environments in which
firms perform better than markets could. To create space for firms, Coase suggested that
some environments might b
Factors in Industrial Integration
Author(s): John Jewkes
Source: The Quarterly Journal of Economics, Vol. 44, No. 4 (Aug., 1930), pp. 621-638
Published by: Oxford University Press
Stable URL: http:/www.jstor.org/stable/1884026 .
Accessed: 22/12/2014 05:43
On the folly of rewarding A, while hoping for B
Academy of Management Journal (pre-1986); Dec 1975; 18, 000004; ABI/INFORM Global
Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.