《经济学与法律》教学课件—-Ex-Post-Ex-Ante.pptxVIP

;Questions on Tuesday Class?;Two Senses of Utility;Why?;So if I had $40,000, I would be willing to bet $10,000 on a coin flip.;Which gets us to Von Neumann Utility;DMU=Risk Aversion;“Risk Aversion”=DMU(I)=Risk Aversion in Income;If You Find This Stuff Really Interesting;DMU and Income Redistribution;Two Problems With that Argument;Different Assumptions, Different Conclusions;The Cost of Redistribution;Conclusion: For a Utilitarian;Utilitarian Argument for Economically Efficient Law;Risk, Insurance, and all That;Why Not Insure 100% Against All Risks?;Moral Hazard;Co-insurance;I will miss some p