Main field of study: Economics, Microdata Analysis
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Learning outcomes for the course
On completion of the course the students will be able to:· set up and analyze game-theoretic problems.
· analyze principal-agent problems within firms and organizations, and suggest solutions to such problems.
· Understand the difference between “hidden action” problems and “hidden characteristics” problems, and how firms and organizations can work to solve them.
· Understand how transaction costs and property rights affect efficient resource allocation within a firm or within society.
· Understand how bounded rationality and decision-maker biases affect the decisions taken in organizations.
· demonstrate a familiarity with a number of empirical examples of the problems described above.