Michael Spence

(redirected from A. Michael Spence)

Michael Spence

An American economist born in 1943. He is most noted for the signalling model, which states that employees pay for education to attract employers. According to Spence's model, even if the education itself lacks any intrinsic value, its ability to attract an employer gives it value for the employee. Spence also has done work on information asymmetry, for which he shared the Nobel Prize for Economics in 2001.
References in periodicals archive ?
Proposal 1 -- Election of Directors: Siebel Systems stockholders reelected three board members whose three-year terms expired this year: Co-Founder Patricia House, age 48, who has been with Siebel Systems since its inception in July 1993 and has served as Vice Chairman since January 2001; Eric Schmidt, age 48, Chairman and Chief Executive of Google and a Director of Siebel Systems since May 1996; and A.
Davila and his colleagues use signaling theory developed by former Business School Dean A.
As the eCommerce revolution continues, businesses will increasingly need to form and manage dynamic Internet trading communities in order to create value and remain relevant in the global marketplace," said A.