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| | rediff.com: Akerlof, Spence, Stiglitz bag Nobel Economics Prize |
 | | George Akerlof, Michael Spence and Joseph Stiglitz, all from the United States, won the 2001 Nobel Prize for Economics, the Royal Swedish Academy of Sciences said on Wednesday. |
 | | Michael Spence identified an important form of adjustment by individual market participants, where the better informed take costly actions in an attempt to improve on their market outcome by credibly transmitting information to the poorly informed. |
 | | George A Akerlof, 61, has a PhD from MIT and has held professorships at Indian Statistical Institute and London School of Economics. |
| www.rediff.com /money/2001/oct/10nobel.htm (418 words) |
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