Hi Christian, can you please explain why you gave my summary only 1 star? It's not in line with the reviews I have received so far so I'm curious to hear your opinion. Thanks in advance and good luck with your exam!
Intermediate Microeconomics, Games and
Behaviour
Universiteit Utrecht – ECB2VMIE
Written by Lisanne Louwerse
Summary
,Table of content
Week 1 – Uncertainty and time .............................................................................................. 4
1 Economics in times of a climate change .......................................................................... 4
1.2 Uncertain outcomes ................................................................................................... 4
1.2.1 Risk attitudes .......................................................................................................... 4
1.2.2 Measures of risk aversion ....................................................................................... 7
1.3 Decisions over time ................................................................................................... 9
1.3.1 Consistent time preferences - discounted utility .................................................. 10
1.3.2 Inconsistent time preferences - hyperbolic discounting ....................................... 13
1.3.3 Self-control and self-awareness ........................................................................... 14
Week 2 – Strategic interaction: single encounters ................................................................ 16
1.4 The role of firms ................................................................................................. 16
1.4.1 Environmental policy when firms choose quantities simultaneously ............ 16
1.4.2.1 Emission taxes when firms compete in prices for homogeneous goods ......... 19
1.4.2.2 Emission taxes when firms compete in prices for heterogeneous products ...... 20
Week 3 – Strategic interaction: sequential encounters ......................................................... 22
1.4.3 First and second mover advantages ................................................................ 22
1.5 The role of technology and strategic investments .............................................. 23
1.6 Conflict of interests and bargaining over pollution ............................................ 28
Other notes .................................................................................................................... 29
Week 4 – Information imperfections in single encounters ................................................... 31
1.7 Incomplete information and beliefs about the world.......................................... 31
1.8 Climate auctions ................................................................................................. 32
1.8.1 The English auction with independent private values .................................... 35
1.8.2 Second Price (Vickrey) auction with independent private values .................. 37
1.8.3 The First Price auction with independent private values ................................ 39
1.8.4 The Dutch auction with independent private values ...................................... 42
1.8.5 Which auction format should the seller choose when bidders have independent
private values? ............................................................................................................... 42
1.8.6 Relaxing assumptions regarding the bidders. ................................................. 44
Week 6 – Information imperfections in sequential encounters ............................................ 47
1.9 Incomplete information and beliefs about the world.......................................... 47
1.10 Solutions to market failure due to information asymmetries ............................. 50
1.10.1 Bio certificates and signaling ............................................................................. 51
1.10.2 Abatement standards and screening .............................................................. 56
2
, Week 7 – Social context ....................................................................................................... 58
2. Economics of a regenerative (and degenerative) society .......................................... 58
2.1 Fair wages .......................................................................................................... 64
2.2.1 Contracts and implicit incentives ................................................................... 68
2.2.2 Intrinsic motivation......................................................................................... 70
Week 8 – Non-standard preferences and beliefs .................................................................. 73
2.3 Identity theory discrimination ............................................................................ 73
2.4 The role of consumers ........................................................................................ 77
2.4.1 Predictable irrationalities – non-stable preferences ........................................ 78
2.4.2 How much we care (for others) ...................................................................... 82
2.4.3 Empirical evidence ......................................................................................... 89
Other notes ............................................................................................................................ 92
Some models step-by-step ................................................................................................. 92
Auction types ..................................................................................................................... 93
Calculating expected revenue and expected price in auctions ......................................... 93
Relevant articles ................................................................................................................... 95
Week 1 .............................................................................................................................. 95
Week 4 .............................................................................................................................. 96
Week 6 .............................................................................................................................. 97
Week 7 .............................................................................................................................. 97
Week 8 .............................................................................................................................. 98
3
Voordelen van het kopen van samenvattingen bij Stuvia op een rij:
Verzekerd van kwaliteit door reviews
Stuvia-klanten hebben meer dan 700.000 samenvattingen beoordeeld. Zo weet je zeker dat je de beste documenten koopt!
Snel en makkelijk kopen
Je betaalt supersnel en eenmalig met iDeal, creditcard of Stuvia-tegoed voor de samenvatting. Zonder lidmaatschap.
Focus op de essentie
Samenvattingen worden geschreven voor en door anderen. Daarom zijn de samenvattingen altijd betrouwbaar en actueel. Zo kom je snel tot de kern!
Veelgestelde vragen
Wat krijg ik als ik dit document koop?
Je krijgt een PDF, die direct beschikbaar is na je aankoop. Het gekochte document is altijd, overal en oneindig toegankelijk via je profiel.
Tevredenheidsgarantie: hoe werkt dat?
Onze tevredenheidsgarantie zorgt ervoor dat je altijd een studiedocument vindt dat goed bij je past. Je vult een formulier in en onze klantenservice regelt de rest.
Van wie koop ik deze samenvatting?
Stuvia is een marktplaats, je koop dit document dus niet van ons, maar van verkoper lisannelouwerse. Stuvia faciliteert de betaling aan de verkoper.
Zit ik meteen vast aan een abonnement?
Nee, je koopt alleen deze samenvatting voor €8,98. Je zit daarna nergens aan vast.
