434618 SE Information economics

winter semester 2015/2016 | Last update: 01.10.2015 Place course on memo list
434618
SE Information economics
SE 1
2
Block
annually
English

The module will give an introduction to modern information economics related to fi­nancial markets. Participants should be able to give meaningful answers to questions like:         
Is the value of an information always positive?
Should inside trading be prohibited?             
To what extent can Bayes’ decision rule be adopted in financial markets?        
How should a rational investor deal with financial information?  
To what extent indexed investments are rational?

Are ‘Noise Traders’ needed?

Information economics, experimental economics and agent based modelling

What happens in the financial market if everybody does the best he can do?

Is the financial market a minority game?     

To what extent can Bayes’ decision rule be adopted in financial markets?

What does it mean to be good informed?    

Why indexed investments have been so successful?           

Are there limits to indexed investments?

Arguments against insider trading regulation

Arguments in favour of insider trading regulation

Lecture with discussion. Paper präsentations and discussions.

Test after the first part (40%) ;PPT and presentation in the seminar (30%); Quality of the discussion (30%)


Birchler, Urs; Bütler, Monika: Information Economics, Routledge 2007

Schredelseker, Klaus: Grundlagen der Finanzwirtschaft – Ein informationsökonomischer Zugang, München 2013

Schredelseker, Klaus: Pascal’s Wager and Information, JoForecasting 2014, 455-470

Stiglitz, Joseph: The Contribution of the Economics of Information to Twentieth Century Economics, QJE 2000, 1441-1478

Strong, Norman; Walker, Martin: Information and Capital Markets, Basil Blackwell 1987

Positive grades of modules according to § 7 Abs. 1 Z 2 to 5

see dates
Group 0
Date Time Location
Tue 2015-11-17
15.00 - 17.45 SR 3 (Sowi) SR 3 (Sowi) Barrier-free
Tue 2015-12-01
15.00 - 17.45 SR 3 (Sowi) SR 3 (Sowi) Barrier-free
Tue 2015-12-15
15.00 - 17.45 SR 3 (Sowi) SR 3 (Sowi) Barrier-free
Tue 2016-01-12
15.00 - 17.45 SR 3 (Sowi) SR 3 (Sowi) Barrier-free
Tue 2016-01-19
15.00 - 17.45 SR 3 (Sowi) SR 3 (Sowi) Barrier-free