Information at Chicago

Edward Nik-Khah ()
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Edward Nik-Khah: Roanoke College

Chapter 6 in The Palgrave Companion to Chicago Economics, 2022, pp 123-148 from Springer

Abstract: Abstract Economists often credit the Chicago School of Economics with innovating the economics of information. An impression persists that its members shared a view of economic agency and a coherent position on information in markets. Focusing on four cases in point (the economics of search, human capital theory, rational expectations macroeconomics, and financial economics), this chapter challenges this impression: Chicago scholars did not adhere to a single position on information. It then explores whether and to what extent one might view these various strands as belonging to the same “school”.

Keywords: Chicago School of Economics; economics of search; efficient markets hypothesis; Eugene Fama; Gary Becker; George Stigler; human capital; information economics; rational expectations; Robert Lucas (search for similar items in EconPapers)
Date: 2022
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DOI: 10.1007/978-3-031-01775-9_6

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