Information economics

timer Asked: Nov 29th, 2018

Question description

This course is an introduction to the economics of information and uncertainty. We begin by studying decision-making under risk and the value of information, with applications to insurance, risk-pooling, and investment. We then examine the role of asymmetric information in market interactions, in particular the problems known as hidden action and hidden characteristic. We look at how these informational problems affect market outcomes, whether they lead to inefficiencies and, if so, how to remedy them. Finally, we study four major types of auctions and compare them.

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