Joseph E. Stiglitz, 2001 Nobel Laureate in Economics, helped create the theory of markets with asymmetric information and was one of the founders of modern development economics. He played a leading role in an intellectual revolution that changed the characterization of a market economy. In the...

Hoff and Sen consider a multi-community city where community quality is linked to residents' civic efforts, such as being proactive in preventing crime and ensuring the quality of publicly provided goods. Homeownership increases incentives for such efforts, but credit market imperfections force...

All over the world, people are prevented from participating fully in society through mechanisms that go beyond the structural and institutional barriers that rational choice theory identifies ( - poverty, exclusion by law or force, taste-based or statistical discrimination, and externalities...

One of the most fruitful advances in modern economics has been the introduction of psychological realism into the model of"economic man."The World Development Report 2015 organizes the evidence about how humans actually think and make decisions into a coherent framework useful for designing...