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The Microeconomics of Risk and Information covers the principal areas in the field, including risk aversion, simple portfolio theory, precautionary savings, production under risk, risk sharing in the Edgeworth box, adverse selection and moral hazard. Keeping to a strict two-dimensional environment and using only some basic calculus, this textbook is written principally for students of advanced undergraduate and beginning graduate courses in economics, finance, and other fields, who have studied microeconomics at the intermediate level. Compact and clear, the book reflects the author''s twenty-year experience teaching the course in the one-semester format to students around the world.>
Sommario
Introduction
I INDIVIDUAL DECISION MAKING UNDER RISK
Risk and preferences
Risk aversion
Applications
II RISK SHARING ENVIRONMENTS
Perfect information
Adverse selection
Moral hazard
APPENDICES
Mathematical toolkit
A primer on consumer theory.
Info autore
RICHARD WATT is Associate Professor of Economics at the University of Canterbury, New Zealand.
