An Introduction To The Economics Of Information
Incentives and Contracts
(Sprache: Englisch)
This is a graduate textbook on the theory of contracting under asymmetric information, a key part of modern microeconomic theory. It examines the characteristics of optimal contracts when one party has certain relevant knowledge that the other party does...
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This is a graduate textbook on the theory of contracting under asymmetric information, a key part of modern microeconomic theory. It examines the characteristics of optimal contracts when one party has certain relevant knowledge that the other party does not. The various problems are presented in the same framework to allow easy comparison of the different results. This updated second edition substantially extends the exercises that test students' understanding of the material covered in each chapter.
Klappentext zu „An Introduction To The Economics Of Information “
In this revised second edition, An Introduction to the Economics of Information covers the consequences for the character and efficiency of the interaction between individuals and organizations when one party has more or better information on some aspect of the relationship. This is the condition of asymmetric information, under which the information gap will be exploited if, by doing so, the better-informed party can achieve some advantage. The book is written for a one-semester course for advanced undergraduates taking specialized course options, and for first-year postgraduate students of economics or business.After an introduction to the subject and the presentation of a benchmark model in which both parties share the same information throughout the relationship, chapters are devoted to the three main asymmetric information topics of Moral Hazard, Adverse Selection, and Signalling.
The wide range of economic situations where the conclusions are applied includes such areas as finance, regulation, insurance, labour economics, health economics, and even politics. Each chapter presents the basic theory before moving on to applications and advanced topics. The problems are presented in the same framework throughout to allow easy comparison of the different results. This new edition incorporates extended exercises to test the student's understanding of the material, and to develop the tools and skills provided by the main text to solve other, original problems.
Inhaltsverzeichnis zu „An Introduction To The Economics Of Information “
- 1: Introduction
- 2: The Base Model
- 3: The Moral Hazard Problem
- 4: The Adverse Selection Problem
- 5: Signalling
- Mathematical Appendix
- Additional Exercises
Autoren-Porträt von Ines Macho-Stadler, J. D. Perez-Castrillo
Inés Macho-Stadler is Professor of Economics and David Pérez-Castrillo is Associate Professor of Economics at the Universitat Autonoma de Barcelona. They gained Ph.D.s in Economics from the Ecole Hautes Etudes en Sciences Sociales (Paris).; J. David Pérez-Castrillo is Associate Professor of Economics at the Universitat Autonoma de Barcelona. He gained his Ph.D. in Economics from the Ecole Hautes Etudes en Sciences Sociales (Paris).
Bibliographische Angaben
- Autoren: Ines Macho-Stadler , J. D. Perez-Castrillo
- 2001, 2nd ed., 302 Seiten, mit Abbildungen, Masse: 15,6 x 23,4 cm, Kartoniert (TB), Englisch
- Übersetzer: Richard Watt
- Verlag: Oxford University Press
- ISBN-10: 0199243255
- ISBN-13: 9780199243259
- Erscheinungsdatum: 08.03.2001
Sprache:
Englisch
Rezension zu „An Introduction To The Economics Of Information “
On the previous edition "It is a timely contribution to the discipline of Economics as a whole and in particular to Information Economics."--Ian Jackson, Staffordshire UniversityPressezitat
an excellent book. This is a major contribution to the literature in the area of information economics. The most important quality of the book is that it is relatively easy to understand the complicated models of information economics from this book. It is a useful book for all academics interested in modern economics and business issues Prof. Sardar M. N. Islam, Victoria University, Australia
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