Microeconomic Theory IV

Lecture Slides

Lecture Slides-Part 1 (PDF)

Topics covered: Comparison of distributions; decision making under uncertainty; sequential updating; statistics and sufficient statistics; decision analysis, comparison of experiments

Lecture Slides-Part 2 (PDF)

Topics covered: Moral hazard; LEN model; certainty equivalent; multi-tasking

Lecture Slides-Part 3 (PDF)

Topics covered: Adverse selection; virtual cost function; m-state case; continuous case; 

Lecture Slides-Part 4 (PDF)

Topics covered: Mechanism design; revelation principle; VCG mechanism; uniqueness; balancing the budget; BNE implementation; envelope theorem; continuous BNE implementation; revenue equivalence theorem, Myerson-Sattherthwaite Theorem;