Dec 26, 2024  
2019 - 2020 Undergraduate Catalog 
    
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2019 - 2020 Undergraduate Catalog [ARCHIVED CATALOG]

ECON 403 - Advanced Microeconomic Theory: Incentives

Credits: (3)
Prerequisite(s): ECON 303 , MATH 111  or ECON 331 .
An investigation of contracts and other devices that harness self-interest. The aim is to determine the conditions under which the mechanisms generate socially optimal outcomes. Situations in which the pursuit of self-interest is self-defeating, yielding outcomes that are far from socially optimal, are also treated. Calculus is used to identify and evaluate outcomes.