instructorppt The Economics of Information 管理经济学 技术方案.pptVIP

The Economics of Information; After studying this chapter, you should be able to: Define asymmetric information and distinguish between moral hazard and adverse selection. Apply the concepts of adverse selection and moral hazard to financial markets. Apply the concepts of adverse selection and moral hazard to labor markets. Explain the winner’s curse and why it occurs.;Asymmetric Information;Asymmetric Information;Adverse Selection, Annuities, and Social Security Reform;Adverse Selection and Moral Hazard in Labor Markets;The Winner’s Curse: When Is It Bad to Win an Auction?;The Winner’s Curse: When Is It Bad to Win an Auction?;Is There a Winner’s Curse in the Marriage Market?;Want to Make Some Money? Try Auctioning a Jar of Coins;;Adverse selection Asymmetric information Moral hazard Principal-agent problem Winner’s curse