Econ of Uncertainty & Informtn · Economics
A lot of Economics, but, above all, a lot of Math.
Economic Uncertainty encompasses topics such as revelation principles, game theory, signaling, and screening.
many principles; portfolio; game theory; asymmatric information
Utility, risk sharing, asymmetric information
I learned about different models for studying uncertainty and their relationship to the financial sector. I deepened my understanding of information asymmetries and the way in which they can influence pre and post-contractual relationships. I also improved my ability to solve problems using calculus.
I learned a lot during this class, from many perspectives. First of all, I strengthened quantitative skills in class, but also graphical analysis skills, and pure theory and reasoning. Secondly, this class brought some light on how to be a searcher in economics, sharing some knowledge on how to construct an economic and on has personal career.
How to think about uncertainty, how to think about risk, what kind of models do ppl use to model uncertainty
An extension to typical microeconomics of how things change when randomness is added. About 60% theory, 40% applications, largely using insurance as an example
Expected utility theory; division, diversification, and transfer/sharing of risk; social value of information; adverse selection and moral hazard; related applications in insurance, portfolio composition, etc. + related papers
How uncertainty affects individuals and the economy how to measure uncertainty and its effects problems with information uncertainty and how to mitigate them- adverse selection, signaling, screening, moral hazard, agency contracts sustaining interactions under uncertainty