Market for “Lemons”: Quality Uncertainty and the Market Mechanism* | The Quarterly
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… George Akerlof also expresses his gratitude for the financial support of the Canadian Institute
for Advanced Research and of the National Science Foundation under research grant SBR…

This paper considers how identity, a person's sense of self, affects economic outcomes. We
incorporate the psychology and sociology of identity into an economic model of behavior. In …

From acclaimed economists George Akerlof and Robert Shiller, … In this book, acclaimed
economists George Akerlof and Robert … Akerlof and Shiller reassert the necessity of an active …

A model of social distance is presented that is useful for understanding social decisions. Status
and conformity in previous models are discussed, and then a generalization is described. …

In this lecture I shall focus on situations involving repeated decisions with time inconsistent
behavior. Although each choice may be close to maximizing and therefore result in only small …

This paper explains involuntary unemployment in terms of the response of firms to workers'
group behavior. Workers' effort depends upon the norms determining a fair day's work. In …

This paper introduces the fair wage-effort hypothesis and explores its implications. This
hypothesis is motivated by equity theory in social psychology and social exchange theory in …

… In Identity Economics we sit on an economic porch with Rachel Kranton and George
Akerlof, observing what we care about most—our identity."—Dan Ariely, author of Predictably …

The economics of organizations is replete with the pitfalls of monetary rewards and
punishments to motivate workers. If economic incentives do not work, what does? This paper …