Michael Spence

2001 Nobel laureate in economics, Bell laureate in economics, former dean and current honorary dean of the Graduate School of Business at Stanford University in the United States. He has served as the Director of the Doctoral Department of Enterprise Economics at Harvard University, the Director of the Department of Economics, and the Dean of the School of Arts and Sciences at Harvard University. Elected as a member of the American Academy of Arts and Sciences in 1983. In 1990, Spencer served as the Dean of the Graduate School of Business at Stanford University, while also serving as the Chairman of the National Science and Technology and Economic Policy Research Committee. In addition, Spencer also serves as a board member of seven companies. Since the 1970s, he has been dedicated to the study of the \asymmetric information market\ theory, which analyzes how different amounts of information agents have an impact on various types of markets. Received the Nobel Prize in Economics in 2001