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.

I recognized that information was, in many respects, like a public good, and it was this insight that made it clear to me that it was unlikely that the private market would provide efficient resource allocations whenever information was endogenous.

My teachers helped guide and motivate me; but the responsibility of learning was left with me, an approach to learning which was later reinforced by my experiences at Amherst.

If Trump actually wants to help those who have been left behind, he must go beyond the ideological battles of the past.

At some point, universities have to do more to prepare players for university life and help them succeed beyond football. There's so much money being made in this sport. It's a crime to not do everything you can to help the people who are making it for those who are spending it.

Hedge funds, private equity and venture capital funds have played an important role in providing liquidity to our financial system and improving the efficiency of capital markets. But as their role has grown, so have the risks they pose.

You have to play more hands than usual to be successful in tournament poker. While a conservative approach can help you squeak into the money, the only way to win is to mix it up and get involved with a wider range of starting hands.

Sometimes our definitions fall short. Take, for example, the way we view income and labor. It simply doesn't cover enough of the work that women, and in particular poor women, are doing - especially in their own households and the vast 'informal' economy in which most of the world's poorest people work.