Andrew Michael Spence (born November 7, 1943) is an American economist and recipient of the 2001 Nobel Memorial Prize in Economic Sciences, along with George A. Akerlof and Joseph E. Stiglitz, for their work on the dynamics of information flows and market development. He conducted this research while at Harvard University. In the current technological environment—with ever more abundant information flows about market development, prices, profit margins, investment instruments and rates of return—their work is more relevant than ever.

Michael Spence is probably most famous for his job-market signaling model, which essentially triggered the enormous volume of literature in this branch of contract theory. In this model, employees signal their respective skills to employers by acquiring a certain degree of education, which is costly to them. Employers will pay higher wages to more educated employees, because they know that the proportion of employees with high abilities is higher among the educated ones, as it is less costly for them to acquire education than it is for employees with low abilities. For the model to work, it is not even necessary for education to have any intrinsic value if it can convey information about the sender (employee) to the recipient (employer) and if the signal is costly.

Michael "Mike" Spence (30 December 1936, Croydon, Surrey – 7 May 1968, Indianapolis, Indiana, USA) was a British racing driver from England. He participated in 37 Formula One World Championship Grands Prix, debuting on September 8, 1963. He achieved 1 podium, and scored a total of 27 championship points. He also participated in numerous non-Championship Formula One races, as well as sports car racing.

Mike Spence began his motor sport career through involvement with his family's garage business in Maidenhead, Berkshire. After early outings in 1958, driving his father's Turner and an AC Ace sports car, Spence moved into open wheel racing in Formula Junior in 1959. Immediate success at the wheel of his Emeryson earned Spence the opportunity to drive the car in the non-Championship 1961 Solitude Grand Prix less than two years later, although his gearbox failed after only six laps. However, later that year he finished an astonishing second in the Lewis-Evans Trophy race at Brands Hatch. These results prompted moves to the privateer Ian Walker Racing FJ team for 1962, driving a Lotus 22, and then to the works Lotus Formula Junior squad in 1963.