Get BookThe Core of Economies with Asymmetric Information (Lecture Notes in Economics and Mathematical Systems)

Download The Core of Economies with Asymmetric Information (Lecture Notes in Economics and Mathematical Systems)

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Book Details :
Published on: 2012-12-06
Released on: 2012-12-06
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and should therefore constitute a part of every area of economic 3 theory. The spectrum covered by information economics today ranges from Stigler's search theory4 to industrial economics, including oligopoly theory, innovation, as well as research and develop­ 5 ment. However, the area information economics is most closely connected with is the theory of optimal contracts, mainly ana­ 6 lyzed in principal-agent models. Contract theory deals primar­ ily with the question of how optimal arrangements (contracts) for the purchase and sale of commodities and services between two or more agents should be structured. In these models, it is often assumed that the parties to the contract are informed differently or asymmetrically about relevant variables (e. g. the health of one party in the case of insurance contracts, or the effort in relation to employment contracts). As a result of this asymmetric in­ formation, phenomena such as moral hazard, adverse selection, signaling, and screening may arise. Frequently, results from con­ tract theory are referred to when making statements about the effects of asymmetric information on an economy. Models of this kind are often used to explain phenomena such as fixed wages or unemployment, among others. 7 However, such conclusions must be treated with caution for two reasons. In the first place, in these models, a contract (explicit or implicit) is determined by the solution of an optimization prob­ lem. UCC Book of Modules 2016/2017: Economics Students should note that all of the modules below may not be available to them. Undergraduate students should refer to the relevant section of the UCC Undergraduate ... Money and Banking: What Everyone Should Know - English The history of money; how money is created by commercial and central banks; the role of public confidence in the stability of financial systems; the psychology of ... Tuomas Sandholm - Carnegie Mellon School of Computer Science Tuomas Sandholm. Professor Carnegie Mellon University Computer Science Department 5000 Forbes Avenue Pittsburgh PA 15213. Director Electronic Marketplaces Laboratory Majors & Minors Tufts Admissions The Africana Studies program is part of the Consortium of Studies in Race Colonialism and Diaspora. Africana Studies is an interdisciplinary field that focuses on ... Graduate School of Business Stanford University The mission of the Stanford Graduate School of Business is to create ideas that deepen and advance the understanding of management and with these ideas develop ... SocioSite: ECONOMIC SOCIOLOGY Information resources on economic sociology. Editor: dr. Albert Benschop (University of Amsterdam). Inflation - Wikipedia In economics inflation is a sustained increase in the general price level of goods and services in an economy over a period of time resulting in a loss of value of ... Explore tutor2u Economics tutor2u partners with teachers & schools to help students maximise their performance in important exams & fulfill their potential. Economics Courses - University of California San Diego Economics [ undergraduate program graduate program faculty] All courses faculty listings and curricular and degree requirements described herein are subject to ... Courses University of Wisconsin Colleges Please visit the course descriptions page to to view up-to-date course descriptions. American Indian Studies. AIS 101 American Indian Studies 3 cr
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