- Understand 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 relationship.
- Know standard formats of the auctions
- Know how to evaluate the value of information.
- Know the ways to measure uncertainty
- Understand the consequences of endogenous information acquisition
- Information asymmetries- Adverse Selection - Signaling - Screening Utility Maximization and Choice
- Principal-Agent Problem- Hidden Actions (Moral Hazard) - Hidden Information(Menu of Contracts)
- Private Value Auctions
- Global Games
- Endogenous Information Acquisition (mostly Rational Inattention)
- Interim assessment (1 module)0.1 * activity in the class + 0.6 * final exam + 0.3 * in-class test
- Krishna, V. (2010). Auction Theory (Vol. 2nd ed). Burlington, MA: Academic Press. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=297062
- Christian Merkl. (2012). Veldkamp, L.: Information Choice in Macroeconomics and Finance. Journal of Economics, (1), 97. https://doi.org/10.1007/s00712-012-0282-8