Lecture03

Lecture03 - Key Points Continued • Tax system as a risk...

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Lecture 3: Technology and Invention in Finance Economics 252, Spring 2008 Prof. Robert Shiller, Yale University
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Key Points • Pooling risks around the world • Backus Kehoe and Kydland • Rapid change in financial technology • Long-run risks still not managed well • Role of invention • Role of psychological framing • Role of information technology • John Harsanyi, John Rawls, theory of justice
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Unformatted text preview: Key Points, Continued • Tax system as a risk management device • Framing and the history of taxes • Loss aversion, Daniel Kahneman and Amos Tversky • Insurance as an invention • Patent law • Corporation and limited liability Key Points, Continued • Inflation indexed debt • Real estate risk management • Subprime crisis...
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This note was uploaded on 02/08/2012 for the course ECON 252 taught by Professor Robertshiller during the Spring '08 term at Yale.

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Lecture03 - Key Points Continued • Tax system as a risk...

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