ECON 211B
Information Economics
Description
Lecture, three hours. Requisites: courses 201A, 201B, 201C or equivalents. Study of how informational frictions shape economic behavior and institutions. Such frictions underlie the two main transaction costs that impede economic efficiency: the need to provide incentives when asymmetric information prevents perfect contracting, and the inability to perfectly optimize or write complete contracts due to bounded rationality arising from information processing costs. Part of the micro theory sequence for second-year PhD students in economics. Covers concepts, techniques, and applications relevant for other fields in economics such as macro, finance, industrial organization, and organizational economics, as well as other disciplines such as business, computer science, and mathematics. S/U or letter grading.
Prerequisites
- Required:Taken?
- Required:Taken?
- Required:Taken?
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