George Arthur Akerlof (June 17th 1940 -) is a American economist néo-keynésien. He received in 2001 the “Nobel Prize” of economy (with Michael Spence and Joseph Stiglitz) for his analyzes of the Marché in situation of Asymétrie of information.

Akerlof studied with the Université of Yale and made off its thesis with the Massachusetts Institute Technology (MIT).

Among the imperfections of market, Akerlof studies the asymmetry of information. The actors do not have the same information on the market. It uses the example of the market of second-hand car to highlight the impact of asymmetries of information on the market. The salesman of a second-hand car knows best the characteristics of his car that the intending purchaser. The purchasers know that the market comprises cars of bad quality. They thus seek to pay the cars at the price low. But at this price, the owners of cars of quality refuse to sell them and withdraw market. With final, it will remain on the market only the products of bad quality (the let us lemons English ). The asymmetry of information causes an unfavourable problem of Sélection and prevents the market from functioning in an efficient way.

It highlighted another exception at the law of the request, today bearing sound " Effect Akerlof " or effect of mark . The purchasers have once tendency to buy the goods perfectly subtituables which have a higher price in the same market while believing as that which has a higher price is better than the other which is sold less expensive.