Wednesday, September 26, 2012

Background material on the economics of risk

The last time I taught intermediate microeconomics, I made a bunch of Excel workbooks with numerically animated graphs, which I call Excelets, and then I produced some micro-lectures, one per worksheet, and delivered those as YouTube videos.

You can find the set of these on Risk and Uncertainty at the link.  The Excel workbook on which these are based can also be downloaded.   We might cover a few of these next week in class.   It is important background information for us.

When I taught this stuff some of the better students wanted to see the algebra of expected utility worked through.  So here is a micro-lecture on that and here is the PowerPoint on which the micro-lecture is based. Finally, this is the same concepts looked at graphically and the Excel file for that.

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