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THE ECONOMICS OF UNCERTAINTY AND INFORMATION

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The Economics of Uncertainty and Information may be used in conjunction with Laffont's Fundamentals of Economics in an advanced course in microeconomics. Both texts provide a thorough account of modern thinking on the subject and a wealth of carefully chosen examples and problems. The first four chapters of The Economics of Uncertainty and Information summarize the essential tools of the analysis of uncertainty and information: the theory of individual behavior under uncertainty, the measures of risk aversion and the measures of risk, and the notions of certainty equivalence and information structure. Subsequent chapters introduce the theory of contingent markets, model systems of incomplete markets and define the concept of a perfect foresight equilibrium, cover two fundamental institutions for sharing risk - the stock market and insurance, show how the transmission of information by prices renders information structures endogenous, and study personalized exchange with asymmetric information. Each chapter concludes with a list of suggested readings and with auxiliary sections which go into more detail about certain aspects of the subject. The book concludes with review problems and exercises.

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Availability

10000738

338.5 LAF e

RLC MM (Rak Buku Umum)

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Detail Information

Series Title

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Statement of Responsibility

Jean-Jacques Laffont

Call Number

338.5 LAF e

Publisher

Cambridge, Mass : The MIT Press., 1990

Collation

xi, 289 p. : ill. ; 24 cm.

Language

English

ISBN/ISSN

0-262-12136-0

Classification

338.5

Content Type

-

Edition

-

Subject(s)

Buku Umum
Microeconomics
Uncertainty

Specific Detail Info

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