George Akerlof

American economist and Koshland Professor of Economics

George Arthur Akerlof (born June 17, 1940) is an American economist who is a university professor at the McCourt School of Public Policy at Georgetown University and Koshland Professor of Economics Emeritus at the University of California, Berkeley. He won the 2001 Nobel Memorial Prize in Economic Sciences (shared with Michael Spence and Joseph E. Stiglitz).

George Akerlof. 2007

Quotes edit

Quotes about Akerlof edit

  • Each individual family, then, does almost as well with a good rule of thumb as it would with perfect rationality—close enough to make perfect rationality an irrational goal. But now comes Akerlof's big insight: "near-rational" behavior and perfectly rational behavior have very different implications for policy.
    • Paul Krugman, Peddling Prosperity (1994), Ch. 8 : In the Long Run Keynes is Still Alive

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