Information, incentives and games (6 points)
(BUS)
Leader: Associate Professor Vai-Lam Mui
Offered:
Clayton Second semester 2004 (Day)
Clayton Second semester 2005 (Day)
Synopsis:
Objectives: Upon completion of this unit, students will have an understanding of the key concepts in game theory, as well as the nature and economic implications of different kinds of information asymmetries; an understanding of how different incentive mechanisms - for example, signaling by the informed party and screening by the uninformed party--may be useful in mitigating the impact of asymmetric information on economic activities; the ability to critically evaluate the extent to which a particular application of information economics and game theory succeeds in generating new testable implications regarding the phenomena under study; the ability to construct formal models to study the importance of informational problems in explaining phenomena that are of interest to them.
Assessment: Assignments: 15% + Research Essay (3500 words): 35% + Examination (2 hours): 50%
Contact Hours: 3 hours per week
Prerequisites: ECC5650
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