The economics of uncertainty and information

Bibliographic Information

The economics of uncertainty and information

Jean-Jacques Laffont ; translated by John P. Bonin and Hélène Bonin

MIT Press, c1989

Other Title

Cours de théorie microéconomique

Available at  / 102 libraries

Search this Book/Journal

Note

Translation of: Cours de théorie microéconomique. Vol. 2. Economie de l'incertain et de l'information

Includes bibliographies and index

Description and Table of Contents

Description

The Economics of Uncertainty and Information may be used in conjunction with Loffont'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.

by "Nielsen BookData"

Details

  • NCID
    BA06723183
  • ISBN
    • 0262121360
  • LCCN
    88013250
  • Country Code
    us
  • Title Language Code
    eng
  • Text Language Code
    eng
  • Original Language Code
    fre
  • Place of Publication
    Cambridge, Mass.
  • Pages/Volumes
    viii, 289 p.
  • Size
    24 cm
  • Classification
  • Subject Headings
Page Top