2155. Imperfect Competition and Behavioral Economics
3.00 credits
Prerequisites:
Grading Basis: Graded
Extension of intermediate microeconomic theory to include noncompetitive markets and psychology to consumer behavior. Topics include monopolies and oligopolies (and their welfare implications); game theory (including adverse selection and moral hazard); and behavioral economics (such as time inconsistency, loss aversion, and pro-social preferences). Emphasis will be placed on real-world applications of theory in agriculture, health, natural resources, and the environment.
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