lecture_notes-Bergemann

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1、IntermediateMicroLectureNotesDirkBergemannYaleUniversitySpring2010Contents1GainsfromTrade21.1BilateralTrading......................21.2ExperimentalEvidence...................21.3MultipleBuyersandMultipleSellers...........32Choice62.1UtilityFunctions.............

2、.........92.2BudgetConstraints.....................103UtilityMaximization113.1OptimizationbySubstitution...............123.2OptimizationUsingtheLagrangeApproach.......144Demand184.1ComparativeStatics....................184.2Elasticities..........................

3、204.3IncomeandSubstitutionEffects,ExpenditureMinimization214.4CornerSolutions......................245ABriefReviewofOptimization275.1Constraints.........................275.2Lagrange...........................285.3ConstrainedOptimization.................295.4Exam

4、ple...........................305.5UnderstandingLagrangians................315.6ConcavityandQuasi-Concavity..............346CompetitiveEquilibrium3617ProducerTheory438DecisionsunderUncertainty458.1Lotteries...........................458.2ExpectedUtility.........

5、.............468.3Insurance..........................479PricingPower499.1Monopoly..........................499.2PriceDiscrimination....................5110Oligopoly5410.1Duopoly...........................5410.2GeneralCournot......................5710.3Stackelber

6、gGame......................5810.4VerticalContracting....................6011GameTheory6311.1PureStrategies.......................6311.2MixedStrategies......................6612AsymmetricInformation6912.1AdverseSelection......................6912.2MoralHazard....

7、....................7112.3SecondDegreePriceDiscrimination............7313Auctions7721GainsfromTrade1.1BilateralTradingSupposethatasellervaluesasingle,homogeneousobjectatc(opportu-nitycost),andapotentialbuyervaluesthesameobjectatv(willingnesstopay).Tradecouldoccu

8、ratapricep,inwhichcasethepayofftothesellerispcandtothebuyerisvp.Weassumefornowthatthereisonlyonebuyerandoneseller,andonlyoneobjectthatcanpotentiallybetraded.Ifnotrad