THE ECONOMICS OF MONEY,BANKING, AND FINANCIAL MARKETS 227
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CHAPTER 8
An Economic Analysis of Financial Structure
195
WEB EXERCISES
1. In this chapter we discuss the lemons problem and
its effect on the efficient functioning of a market. This
theory was initially developed by George Akerlof.
Go to www.nobel.se/economics/laureates/2001/
public.html. This site reports that Akerlof, Spence,
and Stiglitz were awarded the Nobel Prize in economics in 2001 for their work. Read this report down
through the section on George Akerlof. Summarize his
research ideas in one page.
Be sure to visit the MyEconLab website at www.myeconlab.com.This online
homework and tutorial system puts you in control of your own learning with
study and practice tools directly correlated to this chapter content.
