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George Akerlof

American economist and Koshland Professor of Economics
George Akerlof. 2007

George Arthur Akerlof (born June 17, 1940) is an American economist and University Professor at the McCourt School of Public Policy at Georgetown University. He won the 2001 Nobel Memorial Prize in Economic Sciences, which he shared with Michael Spence and Joseph E. Stiglitz.

QuotesEdit

Quotes about AkerlofEdit

  • 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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