This class will cover seminal works in the economics of information including the Nobel Prize winning ideas of Akerlof, Arrow, Spence, Stiglitz, and von Hayek. It will proceed through (i) concepts of information, its value and measurement (ii) search and choice under uncertainty (iii) signaling, screening, and how rational actors use information for private advantage (iii) how to price and package information goods (iv) how properties of information cause market failure (v) macroeconomic effects of information (vi) social and legal issues of owning information. Although primarily a theory class, it should be of interest to any student applying information economics in academic, commercial, or government policy contexts. Prerequisites are a graduate course in microeconomics and mathematics at the level of introductory calculus and statistics. Students will produce a major paper suitable for publication or inclusion in a thesis.

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