1
Q
first step of demand function ?
A
1 - G(P) = 1 - PR ( u < p)
when we need U>p
2
Q
how to adjust for demand functions when multiple ppl
A
just multiply by the number of people
3
Q
Monopoly firm profit function?
A
(price - cost) * quantity demanded * number of people
or
(Revenue * Q) - (Cost * Q)
4
Q
How do we analyse consumer welfare in behavioural biases?
A
Use the uniform distribution to determine who benefts
EC2A3
flashcards
Decks in class (35)
# Cards
-
Topic 1: The Market System45
-
Topic 2: General Competitive Equilibrium36
-
3. Social Welfare56
-
4. Markets and Inequality37
-
5. Markets with behavioural consumers42
-
6. Decision Making with Risk45
-
7. Insurance Markets: Risk and Averse Selection65
-
8(i) Adverse Selection in Products45
-
8 (ii) Adverse Selection in Jobs25
-
9. Assymetric Information - Moral Hazard55
-
10. Public Goods and Externalities60
-
Incentives and Solutions (Lazear, 2018)6
-
Roth (2017)14
-
Backhouse et al. (2020) & Sen (1971)14
-
Starmans et al. (2017), Hufe et al. (2018), Nozick (1974), Sen (1974), Piketty (2013), Stiglitz (2012)16
-
Week 5: Gubb (2015), Kahnemann and Thaler (2006) & Kahneman (2011)16
-
Week 6-7: Stezka and Winter (2011) & Schemiser et al. (2014)14
-
Week 8-9: Wyness et al. (2021), Feng and Graetz (2017) & Lazear (2018)17
-
Week 10: Chan et al. (2018), Altundas et al. (2021)13
-
Problem Set 16
-
Problem Set 26
-
Problem Set 37
-
Problem Set 45
-
PS54
-
PS69
-
PS72
-
PS86
-
PS98
-
PS101
-
Exam Hard qs1
-
Interactive Session 17
-
Interactive Session 27
-
Interactive Session 32
-
Interactive Session 42
-
Interactive Session 56
