Media Agency, Consulting, Software, Marketing, Sport and Blogging: Asymmetric information American economists George Akerlof (b.1940), Michael Spence (b.1943) and Joseph Stiglitz (b.1943) were awarded the 2001 Nobel Prize for their analyses of markets with asymmetric information: where a player has superior information compared to others. For instance, in the car insurance market a driver has private information about their own driving habits. The insurance company has incomplete information: it doesn’t know the driver’s habits, so it doesn’t know the payoffs it will get from selling them insurance. A manager may have imperfect information about an employee’s habits. If the employee doesn’t make progress in a task, the manager doesn’t know whether to blame the employee or to believe that it’s a particularly difficult task. Some footballers are bought for £50m+. Paid £300k+ per week and people still remain 'not happy'. Sometimes, the issue isn't always me.