Lecture 3 Welfare Economics.pdf
Chapter Twelve Uncertainty. Uncertainty is Pervasive u What is uncertain in economic systems? –tomorrow’s prices –future wealth –future availability of.
1 Intermediate Microeconomic Theory Exchange. What can a market do? We’ve seen that markets are interesting in that if one exists, and someone chooses.
Consumer Choice With Uncertainty Part I: Intertemporal Choice Agenda: 1.Uncertainty & The Universe 2.Sources of Uncertainty Brainstorm 3.Key math: Present.
