Apr 18, 2024  
2019 - 2020 Undergraduate Catalog 
    
Catalog Navigation
  Catalog Home
  About William & Mary
  Academic Calendar 2019-2020
  Officers of Instruction
  Admission & Financial Aid
  Tuition and Other Expenses
  Services
  Academic Regulations
  Requirements for Degrees
  Majors & Minors
  Academic Departments, Programs, and Schools
  Course Descriptions
  University of St Andrews Joint Degree Programme
  Maps & Directions
  Index
HELP
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.