George Akerlof | Academic Influence

Why Is George Akerlof Influential?

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By Sara L. Austin, EdD

George Akerlof is a university professor at Georgetown University’s McCourt School of Public Policy and an emeritus professor at the University of California, Berkeley. He earned a B.A. degree from Yale University and a Ph.D from the Massachusetts Institute of Technology.

The Market for Lemons: Quality Uncertainty and the Market Mechanism is Akerlof’s best-known work, examining how consumer demand for “lemon” prices among used car dealerships drives “peaches” out of the market, resulting in a market that is majority lemon and seldom yields a peach. His research eventually led to current lemon laws, in an effort to better protect consumers from larger, hidden market forces.

His other research interests have included identity economics, efficiency wages, reproductive technology, security, and macroeconomics. Akerlof serves as a trustee for Economists for Peace and Security. His work with Paul Romer yielded Looting: The Economic Underworld of Bankruptcy for Profit, which highlights the loopholes and systemic flaws of bankruptcy protection, allowing some companies to profit from it.

He was a co-winner of the Nobel Memorial Prize in Economic Sciences in 2001, with Michael Spence and Joseph Stiglitz. He is a fellow of the American Academy of Arts and Sciences and has a seat on the advisory board for the Institute for New Economic Thinking.

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Featured in Top Influential Economists Today

According to Wikipedia, George Arthur Akerlof 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. Akerlof was awarded 2001 Nobel Memorial Prize in Economic Sciences, jointly with Michael Spence and Joseph Stiglitz, "for their analyses of markets with asymmetric information."

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George Akerlof's Published Works

Number of citations in a given year to any of this author's works

Total number of citations to an author for the works they published in a given year. This highlights publication of the most important work(s) by the author

Published Papers

The Market for “Lemons”: Quality Uncertainty and the Market Mechanism (1970) (13802)
Economics and Identity (2000) (4654)
Labor Contracts as Partial Gift Exchange (1982) (3130)
The Fair Wage-Effort Hypothesis and Unemployment (1990) (2030)
Identity and the Economics of Organizations (2005) (1507)
A theory of social custom, of which unemployment may be one consequence (1980) (1466)
Social Distance and Social Decisions (1997) (1319)
The Economic Consequences of Cognitive Dissonance (1982) (1241)
The Macroeconomics of Low Inflation (1996) (1218)
Procrastination and Obedience (1991) (929)
A Near-Rational Model of the Business Cycle (1985) (902)
The Economics of Caste and of the Rat Race and Other Woeful Tales (1976) (889)
Animal spirits : how human psychology drives the economy, and why it matters for global capitalism : with a new preface by the authors (2010) (864)
Efficiency Wage Models of the Labor Market (1986) (857)
Identity and Schooling: Some Lessons for the Economics of Education (2002) (840)
Looting: The Economic Underworld of Bankruptcy for Profit (1994) (734)
Gift Exchange and Efficiency-Wage Theory: Four Views (1984) (669)
Behavioral Macroeconomics and Macroeconomic Behavior (2002) (582)
Identity Economics: How Our Identities Shape Our Work, Wages, and Well-Being (2010) (539)
Near-Rational Wage and Price Setting and the Long-Run Phillips Curve (2000) (533)
Can Small Deviations from Rationality Make Significant Differences to Economic Equilibria (1985) (499)
An Analysis of Out-of-Wedlock Childbearing in the United States (1996) (496)
Job Switching and Job Satisfaction in the U (1988) (492)
The Missing Motivation in Macroeconomics (2007) (483)
The Economics of "Tagging" as Applied to the Optimal Income Tax (1978) (474)
Fairness and Unemployment (1988) (399)
East Germany in from the Cold: The Economic Aftermath of Currency Union (1991) (382)
Identity Economics (2010) (301)
An economic theorist's book of tales (1984) (286)
Efficiency Wage Models of the Labor Market: Introduction (1986) (238)
Identity, Supervision, and Work Groups (2008) (169)
How Human Psychology Drives the Economy and Why It Matters (2009) (164)
Workers&Apos; Trust Funds and the Logic of Wage Profiles (1988) (150)
Phishing for Phools: The Economics of Manipulation and Deception (2015) (145)
Path dependence, its critics and the quest for 'historical economics' (2002) (138)
The Implicit Contract Theory of Unemployment meets the Wage Bill Argument (1980) (129)
Efficiency Wage Models of the Labor Market. (1988) (128)
15 – THE MARKET FOR “LEMONS”: QUALITY UNCERTAINTY AND THE MARKET MECHANISM* (1978) (120)
Unemployment spells and unemployment experience (1980) (102)
An Experience-Weighted Measure of Employment and Unemployment Durations (1981) (97)
Unemployment Through the Filter of Memory (1985) (95)
THE ECONOMICS OF ILLUSION (1989) (94)
Rational Models of Irrational Behavior (1987) (93)
Sins of Omission and the Practice of Economics (2020) (82)
Do Deferred Wages Dominate Involuntary Unemployment as a Worker Discipline Device? (1986) (82)
Discriminatory, Status-based Wages among Tradition-oriented, Stochastically Trading Coconut Producers (1985) (80)
Men Without Children (1998) (74)
The Case Against Conservative Macroeconomics: An Inaugural Lecture (1979) (62)
Stabilization Policy: A Reconsideration (2006) (61)
ADVERSE SELECTION (2007) (60)
Gang Behavior, Law Enforcement, and Community Values (2013) (60)
Bread and Bullets (2016) (56)
Relative Wages and the Rate of Inflation (1969) (55)
What Have We Learned?: Macroeconomic Policy after the Crisis (2014) (55)
Near-Rational Wage and Price Setting and the Optimal Rates of Inflation and Unemployment (2000) (54)
Readings in the economics of contract law: The market for “lemons”: quality uncertainty and the market mechanism (1982) (54)
Measures of Unemployment Duration as Guides to Research and Policy: Reply [An Experience-Weighted Measure of Employment and Unemployment Duration] (1983) (51)
Irving Fisher on his Head: The Consequences of Constant Threshold-Target Monitoring of Money Holdings (1979) (50)
Capital, Wages and Structural Unemployment (1969) (49)
The Short Run Demand for Money (1980) (46)
Unfinished Business in the Macroeconomics of Low Inflation: A Tribute to George and Bill by Bill and George (2008) (43)
The Demand for Money: A General-Equilibrium Inventory-Theoretic Approach (1973) (36)
Jobs as Dam Sites (1981) (31)
Writing the "The Market for 'Lemons'": A Personal and Interpretive Essay (2003) (29)
Do Deferred Wages Eliminate the Need for Involuntary Unemployment as a Worker Discipline Device (1990) (29)
Persistence of false paradigms in low-power sciences (2018) (24)
Low Inflation or No Inflation: Should the Federal Reserve Pursue Complete Price Stability? (1996) (21)
Irving Fisher on His Head II: The Consequences of the Timing of Payments for the Demand for Money (1980) (18)
Structural Unemployment in a Neoclassical Framework (1969) (18)
Explorations in Pragmatic Economics (2005) (16)
Pitfalls in Markov Modeling of Labor Market Stocks and Flows (1981) (16)
BALANCED GROWTH-A RAZOR'S EDGE?* (1967) (15)
An economic theorist's book of tales: The market for “lemons”: quality uncertainty and the market mechanism (1984) (14)
Efficiency Wage Models of the Labor Market: Labor Contracts as Partial Gift Exchange (1986) (13)
Explorations in pragmatic economics : selected papers of George A. Akerlof (and co-authors) (2005) (11)
New Calculations of Income and Interest Elasticities in Tobin's Model of the Transactions Demand for Money (1978) (11)
An economic theorist's book of tales: The economics of caste and of the rat race and other woeful tales (1984) (10)
Inflation and Unemployment in the U.S. and Canada: A Common Framework (2002) (10)
An economic theorist's book of tales: A theory of social custom, of which unemployment may be one consequence (1984) (9)
The Short-Run Demand for Money: A New Look at an Old Problem (1982) (9)
What They Were Thinking Then: The Consequences for Macroeconomics during the Past 60 Years (2019) (8)
New Mothers, Not Married: Technology Shock, the Demise of Shotgun Marriage, and the Increase in Out-of-Wedlock Births (1996) (8)
The New Case for Keynesianism (2007) (7)
Waiting for Work (1990) (7)
Markets with Asymmetric Information 2 More speci (2001) (6)
The Fair Wage-Effort Hypothesis and Unemployment Author ( s ) : (2008) (6)
Reply to Professor Heal (1976) (6)
Beetles: Biased Promotions and Persistence of False Belief (2017) (5)
Paul A. Samuelson: A Personal Tribute and a Few Reflections (1982) (4)
An economic theorist's book of tales: Labor contracts as partial gift exchange (1984) (4)
Animal Spirits or Complex Adaptive Dynamics? A Review of (2009) (3)
Comment on "Household Debt in the Consumer Age: Source of Growth--Risk of Collapse" (by Barry Z. Cynamon and Steven M. Fazzari) (2008) (3)
Economics of Identity (2014) (3)
Low Inflation or No Inflation (1996) (3)
Manipulation and Deception as Part of a Phishing Equilibrium (2016) (3)
Substitution in a general equilibrium framework (1970) (3)
An economic theorist's book of tales: Loyalty filters (1984) (2)
Interview with the 2001 Laureates in Economics, George A. Akerlof, A. Michael Spence and Joseph E. Stiglitz (2001) (2)
Inflationary Tales Told by Static Models: The Case of Price Setters (1976) (2)
The questions of coinage, trade credit, financial flows and peanuts : a flow-of-funds approach to the demand for money (1975) (2)
The microeconomic foundations of a flow of funds theory of the demand for money (1978) (1)
EIGHT. Race and Minority Poverty (2010) (1)
SIX. Identity and the Economics of Education (2010) (1)
Virginia v. Sebelius - Economics Professors Amicus Brief (2011) (1)
Ekonomija identiteta: Kako naši identiteti oblikuju naš rad, plaće i blagostanje (2016) (1)
An economic theorist's book of tales: Jobs as dam sites (1984) (1)
An economic theorist's book of tales: Introduction (1984) (1)
TWO. Identity Economics (2010) (1)
FIVE. Identity and the Economics of Organizations (2010) (1)
Centre-state fiscal relations in India (2019) (1)
Regulation of Interstate Wine Shipments (2004) (1)
Bread and Bullet (2016) (1)
CHAPTER EIGHT. Tobacco and Alcohol (2015) (0)
SEVEN. Gender and Work (2010) (0)
James A. Mirrlees, William S. Vickrey, George A. Akerlof, A. Michael Spence and Joseph E. Stiglitz (2010) (0)
CHAPTER TWO. Reputation Mining and Financial Crisis (2015) (0)
CONCLUSION: EXAMPLES AND GENERAL LESSONS. New Story in America and Its Consequences (2015) (0)
Eating Each Other's Eggs and the Persistence of False Belief (2016) (0)
NBER WORKING PAPER SERIES OPTIMAL UNEMPLOYMENT INSURANCE OVER THE BUSINESS CYCLE (2014) (0)
CHAPTER THREE. Advertisers Discover How to Zoom In on Our Weak Spots (2015) (0)
CHAPTER ONE. Temptation Strews Our Path (2015) (0)
NBER WORKING PAPER SERIES NOMINAL WAGE RIGIDITY IN VILLAGE LABOR MARKETS (2014) (0)
CHAPTER SIX. Phood, Pharma, and Phishing (2015) (0)
On Making Economics Realistic (2002) (0)
CHAPTER ELEVEN. The Resistance and Its Heroes (2015) (0)
THREE. Identity and Norms in Utility (2010) (0)
You have printed the following article : Asymmetric Price Adjustment and Economic Fluctuations (2007) (0)
A new theory of unemployment (1975) (0)
Appendix B . Extensions of the Model We analyze three extensions of our model : tenure committees (2018) (0)
A theory of involuntary unemployment (1978) (0)
CHAPTER NINE. Bankruptcy for Profit (2015) (0)
What Have People Been Thinking? Animal Spirits Macroeconomics with and without Animal Spirits (2009) (0)
(UQVW)HKUDQG/RUHQ)*RHWWH (1999) (0)
NINE. Identity Economics and Economic Methodology (2010) (0)
Economics and identity: Moving beyond the doctrine of selfishness [videorecording] (2008) (0)
Election 2004: Fiction vs. Reality (2004) (0)
CHAPTER SIXTEEN. The Fair Wage-Effort Hypothesis and Unemployment (2004) (0)
Frontrunning the signals: As arbitrage between sophisticates (2021) (0)
INTRODUCTION. Expect to Be Manipulated: Phishing Equilibrium (2015) (0)
CHAPTER TEN. Michael Milken Phishes with Junk Bonds as Bait (2015) (0)
NO . 29 Ethnic Diversity and School Funding in Kenya (2001) (0)
Taxability and the Social Contract (2003) (0)
FOUR. Where We Fit into Today’s Economics (2010) (0)
CHAPTER FIVE. Phishing in Politics (2015) (0)
POSTSCRIPT TO CHAPTER THREE. A Rosetta Stone (2010) (0)
American Economic Association Procrastination and Obedience (2007) (0)
Maximum Likelihood Estimation with Pooled Observations: An Example from labor Economics (1980) (0)
The sensitivity of monetarist conclusions to monetarist assumptions: constant lag versus constant target-threshold monitoring (1978) (0)
TEN. Conclusion, and Five Ways Identity Changes Economics (2010) (0)
Bread and Bullets by George A. Akerlof and Dennis J.Snower (2016) (0)
An Economic Theorist's Book of Tales China Edition (2015) (0)
AFTERWORD. The Significance of Phishing Equilibrium (2015) (0)
CHAPTER FOUR .Rip-offs Regarding Cars, Houses, and Credit Cards (2015) (0)
CHAPTER SEVEN. Innovation: The Good, the Bad, and the Ugly (2015) (0)

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