311502 Information Structures, Risk Allocation and Prices in Financial Markets (V) (WiSe 2012/2013)
Contents, comment
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Course in English
Syllabus: Information Structures, Risk Allocation and Prices in Financial Markets
The course deals with the role of public information, conveyed through an information structure, for the processes of risk allocation and price formation in financial markets. We begin with a thorough description and analysis of the theoretical concept of an information structure. The central theorems of information economics will be derived and illustrated. After treating the Arrow-characterization of equivalent information structures, stochastic dominance concepts will be used to define orderings on signal spaces. The usefulness of these orderings will be illustrated by means of various applications in economic models. Finally, we analyze the link between the value of public information and the operation of risk sharing arrangements.
Some basic literature:
Textbooks
1. Hirshleifer, J. and J. G. Riley (1992). The Analytics of Uncertainty and Information. Cambridge Surveys of Economic Literature. Cambridge Univerity Press.
2. Laffont, J.-J. (1989). The Economics of Uncertainty and Information. MIT Press.
3. Nermuth, M. (1982). Information Structures in Economics. Lecture Notes in Eco-nomics and Mathematical Systems. Springer.
Teaching staff
Dates ( Calendar view )
| Frequency | Weekday | Time | Format / Place | Period |
|---|
Subject assignments
| Module | Course | Requirements | |
|---|---|---|---|
| 31-M-El1 Elective Courses 1 | Gewählte Veranstaltungen aus dem Bereich "Spezialkenntnisse in ökonomischer Theorie und/oder quantitativen Methoden" 4 LP | Student information | |
| - | Graded examination | Student information | |
| 31-M-El2 Elective Courses 2 | Gewählte Veranstaltungen aus dem Bereich quantitativen Methoden 4 LP | Student information | |
| - | Graded examination | Student information | |
| 31-M-El3 Elective Courses 3 | Gewählte Veranstaltungen aus dem Bereich ökonomischer Theorie 4 LP | Student information | |
| - | Graded examination | Student information | |
| 31-MM5 Finanzmarkttheorie | Information Structures, Risk Allocation and Prices in Financial Markets | Graded examination
|
Student information |
| 31-MM5-WiMa Finanzmarkttheorie | Information Structures, Risk Allocation and Proces in Financial Markets | Graded examination
|
Student information |
The binding module descriptions contain further information, including specifications on the "types of assignments" students need to complete. In cases where a module description mentions more than one kind of assignment, the respective member of the teaching staff will decide which task(s) they assign the students.
| Degree programme/academic programme | Validity | Variant | Subdivision | Status | Semester | LP | |
|---|---|---|---|---|---|---|---|
| Economic Behavior and Interaction Models / Promotion | 4 | ||||||
| Economics and Management (BiGSEM) / Promotion | 4 | ||||||
| QEM - Models and Methods of Quantitative Economics / Master | 4 | ||||||
| Wirtschaftsmathematik / Master | (Enrollment until SoSe 2011) | MW09eS | 4 | ||||
| Wirtschaftswissenschaften / Master | (Enrollment until SoSe 2012) | Modul 5 | 4 | Themengebiet 5c |
- Registered number: 17
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- Last update basic details/teaching staff:
- Friday, December 11, 2015
- Last update times:
- Friday, July 6, 2012
- Last update rooms:
- Friday, July 6, 2012
- Type(s) / SWS (hours per week per semester)
- lecture (V) / 2
- Department
- Faculty of Business Administration and Economics
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