Douglass North
Douglass North
Douglass Cecil Northwas an American economist known for his work in economic history. He was the co-recipientof the 1993 Nobel Memorial Prize in Economic Sciences. In the words of the Nobel Committee, North and Fogel "renewed research in economic history by applying economic theory and quantitative methods in order to explain economic and institutional change."...
NationalityAmerican
ProfessionEconomist
Date of Birth5 November 1920
CountryUnited States of America
Douglass North quotes about
conducive environment last michigan northern summers work
My wife and I now live in the summers in northern Michigan in an environment which is wonderfully conducive to research, and where most of my work in the last 15 years has been done.
numbers cost information
Information costs are reduced by the existence of large numbers of buyers and sellers. Under these conditions, prices embody the same information that would require large search costs by individual buyers and sellers in the absence of an organized market.