We will be starting in on the economics of risk and uncertainty. These are background materials. There are a couple of videos to watch and a document to read. I hope the document is mostly familiar stuff. If it is not, please let me know. Please review these before class on Tuesday. I expect to do other things and hope this stuff is understood. There will be a follow up Excel homework on this to test your understanding.
Background document on math and philosophy of probability.
PDF File
Increasing Risk and Risk Aversion
Micro-lecture (screen capture video with my voice over).
Associated PowerPoint file.
Graphical Approach to Risk Aversion
Micro-lecture
Associated Excel file.
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