The Economics of Uncertainty

This is an advanced microeconomic theory course. Students are introduced to a variety of frontier research areas in microeconomic theory. While the course focuses on mathematical and statistical analysis, empirical and experimental applications of the material are discussed throughout. The course covers the following topics: [1] Theories of choice under uncertainty. [2] Risk aversion and applications to insurance and portfolio choice. [3] Asymmetric information: moral hazard and adverse selection. [4] Market design: auctions, matching markets, and voting systems.