微观经济学教学课件：Ch19-Uncertainty and Information.pptVIP

After studying this chapter you will be able to Explain how people make decisions when they are uncertain about the consequences Explain why people buy insurance and how insurance companies make a profit Explain why buyers search Explain how markets cope with private information Explain how people use financial markets to lower risk Explain how the presence of uncertainty and incomplete information influence the ability of markets to achieve an efficient allocation of resources Lotteries and Lemons Life is like a lottery. How do people make a decision when they don’t know what its consequence