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Course Description

In this course we shall analyze different economic situations involving imperfect information. A brief introduction to game theory and market structure will be provided. The topics of the course will include: signaling and screening in the job market, adverse selection and the market for lemons (as applied in the market for used cars), the value of information in a strategic conflict, notions of individual rationality and incentive compatibility, sharecropping, interlinked contracts, and public goods (Groves-Clarke).

Requisites

Prerequisite: CECN 504

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