The Contributions of the Economics of Information to Twentieth Century Economics

• posted by Xlab Consultancy |
• Mar 24, 2023

This is a reviewed article which was initially published by Stiglitz, J. in 2000. His work centred on the the problems lack of information caused consumers and how it affected their choices. In recent times, there is the discovery that information could be viewed as any other commodity [though di...

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Educational Institutions and Information Asymmetry Observation in UAE

• posted by Xlab Consultancy |
• Aug 01, 2021

Nobel Prize winner Akerlof proposed lemon theory and showed how information asymmetry in the market creates an unbalanced information where poor quality offerings (lemons) wipe out good quality offerings in the market. Akerlof’s model was originally developed in the context of used cars in the...

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The Market for “Lemons”: Quality Uncertainty and the Market Mechanism

• posted by Xlab Consultancy |
• Aug 01, 2021

This is a review article of the original paper by George Akerlof on the above mentioned topic. There exist markets in which buyers judge the quality of prospective purchases from market statistic. This enables incentive for the sellers to put out poor quality commodities for sale since the return...

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Job Market Signalling

• posted by Xlab Consultancy |
• Aug 01, 2021

Signalling is basically a means to indicating turning points for certain economic concepts in the context of economic thinking. This article is a review of the original article by Michael Spence.   The problem of signalling is the inability of investors to carry out investment decisions a...

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