An Introduction to the Economics of Information

This is a graduate textbook on the theory of contracting under asymmetric information, a key part of modern microeconomic theory. It examines the characteristics of optimal contracts when one party has certain relevant knowledge that the other party does not. The various problems are presented in the same framework to allow easy comparison of the different results. The authors indicate substantial real-world applications, and exercises for students (with solutions) are provided at the end of each chapter.

an excellent book. This is a major contribution to the literature in the area of information economics. The most important quality of the book is that it is relatively easy to understand the complicated models of information economics from this book. It is a useful book for all academics interested in modern economics and business issues

Autorentext
Inés Macho-Stadler is Professor of Economics and David Pérez-Castrillo is Associate Professor of Economics at the Universitat Autonoma de Barcelona. They gained Ph.D.s in Economics from the Ecole Hautes Etudes en Sciences Sociales (Paris). ; J. David Pérez-Castrillo is Associate Professor of Economics at the Universitat Autonoma de Barcelona. He gained his Ph.D. in Economics from the Ecole Hautes Etudes en Sciences Sociales (Paris).

Inhalt
1: Introduction
2: The Base Model
3: The Moral Hazard Problem
4: The Adverse Selection Problem
5: Signalling
Mathematical Appendix
Additional Exercises

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