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Uncertainty and Information: An Expository Essay

Author

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  • Singh, Nirvikar

Abstract

This essay provides an elementary, unified introduction to resource allocation under uncertainty in competitive markets. The coverage includes decision-making under uncertainty, measuring risk and risk aversion, insurance and asset markets, and asymmetric information.

Suggested Citation

  • Singh, Nirvikar, 2010. "Uncertainty and Information: An Expository Essay," MPRA Paper 21556, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:21556
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    File URL: https://mpra.ub.uni-muenchen.de/21556/1/MPRA_paper_21556.pdf
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    References listed on IDEAS

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    1. Nirvikar Singh, 2011. "Market Institutions: An Expository Essay," Journal of Academic Research in Economics, Spiru Haret University, Faculty of Accounting and Financial Management Constanta, vol. 3(1 (March)), pages 34-51.
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    Cited by:

    1. Singh, Nirvikar, 2010. "Transaction, Search and Switching Costs: An Expository Essay," MPRA Paper 21558, University Library of Munich, Germany.
    2. Nirvikar Singh, 2011. "Market Institutions: An Expository Essay," Journal of Academic Research in Economics, Spiru Haret University, Faculty of Accounting and Financial Management Constanta, vol. 3(1 (March)), pages 34-51.

    More about this item

    Keywords

    Uncertainty; risk; risk aversion; insurance; asset markets; asymmetric information;

    JEL classification:

    • D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
    • D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General

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