ECON 462 - Information Economics

Credits: 4

The interaction of economic agents in the presence of uncertainty and asymmetric information. Mechanism design for principal-agent relationships. The problems of moral hazard and adverse selection and their implications for economic efficiency. Applications include wage contract design, insurance and auctions. Prerequisites: ECON 360, College-level Statistics, and College-level Calculus (MATH 220 or 224/225). 4 Cr.