ECON-408 Economics of Information
Fall for 2017-2018
In this course we will inspect a piece of the puzzle that has been mostly left out of the core courses in economics: Information. Prices depend on individual preferences that are private information --- how does it come to pass that the competitive equilibrium price reflects this information? In the stock market, individuals' decisions to buy or sell convey information about their estimate of a stock's value --- can such signaling account for stock market bubbles and crashes? Slot machines have different payouts, but casino owners do not tell their customers what the payout is --- how should one optimally gamble when confronted with several different slot machines?
Credits: 3
Prerequisites: ECON-101 or -103
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