A. Michael Spence

Britannica Concise Encyclopedia

(born 1943, Montclair, N.J., U.S.) U.S. economist. He studied at Yale (B.A., 1966), Oxford (B.A./M.A., 1968), and Harvard (Ph.D., 1972) and taught at Harvard and Stanford, serving as dean of the latter's business school from 1990 to 1999. He is known for refining the theory of asymmetric information in the marketplace. His research demonstrated that in certain situations those who are better informed can improve their market return by transmitting information to those who know less; for example, auto dealers can convey the superior quality of their cars by offering warranties. For his work on “market signaling,” Spence shared the 2001 Nobel Prize in Economic Sciences with George A. Akerlof and Joseph E. Stiglitz.


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A Nobel approach
; face=+2; New prize-winner Michael Spence predicts an early turnaround for Hawaii's economyface...terrorist attacks, noted Stanford University economist A. Michael Spence, who has a home on Maui. He estimated any economic fallout from the attacks will be temporary. Spence shared the ... Read more
Mountain rescues.(News)
; ...yesterday. Two Spaniards were treated for hypothermia after they were airlifted from Ben Nevis the night before. American Michael Spence, 18, from Virginia Beach, was rescued and treated for dehydration after he took ill at Sourlies Bothy, Knoydart. Read more
Private Michael Spence's Family Issues Statement
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; Byline: JIM SHELLEY SISTER Tyson on new heart-throb Dr Michael Spence: He just wants to get into your knickers. Donna: What knickers?! (Holby City) Read more
(book review)
; ...COMMUNICATIONS LTD This new book from Garth Saloner and A. Michael Spence is dedicated to providing the reader with information on...Creating and Capturing Value Author: Garth Saloner / A. Michael Spence Published by: John Wiley & Sons ISBN: 0-471-41015-2... Read more

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