Efficiency Wage Models of the Labor Market

George Arthur Akerlof is an American economist and Koshland Professor of Economics at the University of California, Berkeley. Akerlof received his Bachelor's degree from Yale University in 1962, and his Ph.D. from MIT in 1966, and has taught at the London School of Economics.

Akerlof won the 2001 Nobel Prize in Economics (shared with Michael Spence and Joseph E. Stiglitz). and is perhaps best known for his article, "The Market for Lemons: Quality Uncertainty and the Market Mechanism", published in Quarterly Journal of Economics in 1970.

Akerlof's authored book titles include: An Economic Theorist's Book of Tales (Cambridge University Press, 1984), Explorations in Pragmatic Economics (Oxford University Press, 2005), and Animal Spirits: How Human Psychology Drives the Economy, and Why It Matters for Global Capitalism (Princeton University Press, 2009).

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