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Joseph Stiglitz on Pioneering Economic Theories, Policy Challenges, and His Intellectual Legacy

Conversations with Tyler

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Incentive for Information Creation

The paper argues against the belief in informationally efficient markets, highlighting the flaw that if markets efficiently transmit all information, there would be no incentive to collect information. The concern is raised about entities like Google and AI scraping information without contributing to its creation, potentially reducing incentives for others to produce valuable information.

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