When you give chief executives too much compensation in stock options, they concentrate too much on the stock price, and there is a perverse incentive to raise the stock price, particularly when the chief executive wants to exercise his own options. George Akerlof chiefcompensationconcentrate share on social
My father was a chemist on the Yale faculty, my mother a housewife. George Akerlof chemistfacultyfather Change image and share on social
My Swedish grandmother was the daughter of a dairy farmer who lived near Hedemora. My Swedish grandfather worked as a clerk for the Swedish railways in the Stockholm station. George Akerlof clerkdairydaughter Change image and share on social
I think what Bob Shiller and I are doing is we're focusing on macroeconomics and the role of psychology in macroeconomics. George Akerlof bobfocusmacroeconomic Change image and share on social
The whole intention of empirical economics is to force theory down to Earth. George Akerlof eartheconomicsempirical Change image and share on social
I've always been a macroeconomist. That's what I teach. And I guess that's what I've been concerned with ever since I've been very young. George Akerlof concernguesshave Change image and share on social
The idea is that in any situation, people have a notion as to who they are and how they should behave. And if you don't behave according to your identity, you pay a cost. George Akerlof behavecostidea Change image and share on social
The failure of credit markets is one of the major reasons for underdevelopment. George Akerlof creditfailuremajor Change image and share on social
