The Analytics Of Uncertainty And Information by Jack Hirshleifer
A rigorous yet accessible overview of how uncertainty and information influence individual choices and market outcomes in microeconomics. It develops expected utility and Bayesian updating, examines risk and risk aversion, and evaluates the value of information with applications to insurance, portfolio selection, and investment. The analysis extends to asymmetric information—adverse selection, moral hazard, signaling, and screening—along with auctions, search, bargaining, and mechanism design. Throughout, it links formal models to economic intuition to explain incentives, contracts, and the functioning of markets under imperfect information.
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- Published
- 1992
- Nationality
- American
- Length
- Long
- Pages
- 450-500 pages
- Original Language
- English
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