MW24.5 - Lecture Quantitative Economics III (2013/14) - Master Program in Economics
There are many interesting topics in quantitative economics.
This term we will have a look at information economics.
- Lecture:
- Tue. 8-10, Carl Zeiss Str. 3, SR223
- [Friedolin]
- Exercises:
- Thu. 16-18, Carl Zeiss Str. 3, SR124
The exercises on 23 January and 30 January will be postponed to a different date.
- Exam
- Exam
- Mon. 10.2., 14-16, Carl Zeiss Str. 3, SR 113
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- This lecture will be given in English.
- Some knowledge of game theory and some basic knowledge of probabilities may help.
- Audience: The lecture is primarily targeted at graduate and at advanced Master students.
- Motivation:
While information is not easy to touch, information is a very interesting
and quite relevant economic good.
- Topics: Asymmetric information, adverse selection, credence goods, direct mechanisms, moral hazard, optimal contracts, screening, price discrimination, winner's curse.
- Literature:
- Urs Birchler and Monika Bütler: “Information Economics”. Routledge advanced texts in economics and finance. 2007.
If you want to learn more, please read the articles which you find under “Conclusions and further reading” in this book.
- Outline:
- Introduction
- The winner's curse
- Information and selection
- From information to prices
- Optimal contracts
- The revelation principle
- Creating incentives
- Please send feedback and questions to oliver.kirchkamp@uni-jena.de.