An introduction to the economics of information : incentives and contracts / Inés Macho-Stadler, J. David Pérez-Castrillo ; translated by Richard Watt.
An introduction to the economics of information : incentives and contracts / Inés Macho-Stadler, J. David Pérez-Castrillo ; translated by Richard Watt.
A textbook on optimal contract theory, An Introduction to the Economics of Information covers the consequences for the character and efficiency of the interaction between individuals or organizations when one party has more or better information on some aspect of the relationship. This is the condition of asymmetric information, under which the information gap will be exploited if, by doing so, the better-informed party can achieve some advantage. The book is written for a one-semester course for first-year postgraduate students of economics or business and for advanced undergraduates taking specialized course options.
Note
Translated by Richard Watt; a translation, with some minor revisions, of the 1994 edition published by Ariel Economía; [Introducción de la información. English]. A translation, with some minor revisions, of the 1994 edition published by Ariel Economía.
Bibliography, etc. Note
Includes bibliographical references and index.
Formatted Contents Note
1. Introduction 2. The Base Model 3. The Moral Hazard Problem 4. The Adverse Selection Problem 5. Signalling Mathematical Appendix: Concavity and Optimization.