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But individuals and firms spend an enormous amount of resources acquiring information, which affects their beliefs; and actions of others too affect their beliefs.
Joseph E Stiglitz
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As I noted in my Nobel lecture, an early insight in my work on the economics of information concerned the problem of appropriability - the difficulty that those who pay for information have in getting returns.
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Amherst was pivotal in my broad intellectual development; MIT in my development as a professional economist.
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Amherst is a liberal arts college, committed to providing students with a broad education.
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