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This sequel to DECS-433 extends the statistical techniques learned in that course to allow for the exploration of relationships between variables. Topics include one- and two-population hypothesis testing, correlation, simple and multiple regression analysis, and qualitative variables. The course also covers applications of the material and a number of case studies. Extensive use of spreadsheet statistical analysis software is required.
This course is an accelerated version of DECS-434 for students who feel comfortable absorbing the material more quickly. It is an applied regression course just as DECS 434 is. The course covers all topics and cases in DECS 434, and some additional material (about 10-15% more) such as "Logit Regressions" and "Topics in Time Series Analysis". The course can be counted toward the core requirement and as an elective for a Decision Sciences major.
Introduction to the theory of incentives or contract theory; moral hazard (“hidden action”) and adverse selection (“hidden information”) models. Moral hazard problems form the basis of models of insurance, organizations, regulation, and certain aspects of political theory (e.g., power). Adverse selection problems can be found in the core of price discrimination, auctions, and theories of market design. We cover the most influential models in great detail and derive almost all of the important results formally in class. The class is as much about learning the “technologies” used in this literature as it is about learning the results. We also point out open questions and avenues for research.
(Short math course for 1st-year PhD students in Economics.)