George Stigler

George Stigler was an influential American economist known for his contributions to the field of industrial organization and the economics of information. He emphasized understanding how businesses behave in markets and how they interact with regulations. Stigler is also famous for the "Stiglerian model," which suggests that firms aim to maximize profits by seeking out information about markets, costs, and competitors. He was awarded the Nobel Prize in Economic Sciences in 1982 for his work, which helped shape modern economic thought, particularly regarding how knowledge and information influence economic decisions and market structures.