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Microeconomics V

Microeconomics V

En pratique :

Volume horaire de cours : 24
Volume horaire global de TD : 12
Langue principale : Anglais

Description du contenu de l'enseignement

Many if not all economic and business decisions involve some risk and uncertainty. Under risk or uncertainty, a decision can lead to various consequences, which ultimately affect her / his satisfaction (utility, profit...). Because standard microeconomic theory does not account for such uncertainty, there is a need to develop alternative tools and theories to comprehend I) how agents behave when facing risk and II) what are the economic consequences of this behavior. The course is devoted to those issues. It primarily elaborates on Expected utility theory and then considers alternative theories and several economic applications (insurance demand, asymmetric information...).
  Course outline

  1. Decision under uncertainty
  2. Decision under risk
  3. The expected utility theory
  4. Risk and risk aversion
  5. Insurance Demand
  6. Asymmetric Information