J. Stiglitz’s Contribution to the Grounding of Market Theory with Asymmetrical Information


  • Matei Simandan Faculty of Economics "Aurel Vlaicu" University of Arad, Romania


This paper approaches a theme of actuality for the theory and practice of research from different fields of economical and social activities. In the first part, we present the phenomena associated to the asymmetrical distribution of information, with a focus on the contributions of G. Stigler, J. Mirrlees and W. Vickrey, as well as those of G. Akerlof and M. Spence. The second part of the paper insists on the theoretical evaluations involved by the functioning mechanisms of the market in the context of imperfect information, as they were theoretized by J. Stiglitz. The latter part of the paper highlights the possibilities of alternative information as opposed to the classical model of macro-economy and micro-economy, as well as the means of counteracting imperfect information form among the actors that operate on different segments of market economy.


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