The Economics of Information and Uncertainty
Description
How do rational agents make decisions when faced with uncertainty? How do markets and other institutions deal with risks? How do markets behave when some actors are better informed than others? What incentives influence whether economic decision-makers hide or reveal information? Topics include the value of information, the purchase of warranties, agency problems in management, adverse selection and moral hazard in insurance, and signaling in education. Prerequisite: 1 course with a minimum grade of C- from (ECON306, ECON326); and 1 course with a minimum grade of C- from (ECON230, BMGT230, ECON321, STAT401). Restriction: Must be in one of the following programs (Economics Bachelor of Arts; Economics Bachelor of Science; Economics minor; Social Data Science-Economics). Credit Only Granted for:
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ECON 434 has possible credit equivalents including ECON447 at McGill University.