Stanford's Latest Nobel Laureate Is Known for Economic Insights, Surfing.

Byline: Kim Vo

Oct. 11--If you want to see if Stanford University's latest Nobel laureate is on campus, scan the parking lots for the sport-utility vehicle with a windsurfing board strapped on top.

A. Michael Spence is not your typical wonk.

"He's an athlete. He's a very accomplished windsurfer," said his colleague, Stanford professor John Roberts, "and he has absolutely brilliant insights that won him the Nobel Prize."

Those insights related to "signaling:" how people and companies can enhance their market outcomes by sending information to less informed groups. It was the topic of his 1972 doctoral dissertation at Harvard, and one that …