Econ. 303: Intermediate microeconomics II
Professor Wei Li
2011-2012, Term 2
Problem set 1 solution
QUESTION ONE: Answer all the following questions from the textbook.
Chapter 11: Q40
a. If the consumer cannot steal music, the total demand function will b
Problem Set III
Intermediate Microeconomics 2
March 11th, 2016
Sam Hwang1
This problem set is due on Friday March 18th. Slide it under my office door (IONA 205).
Problem 0.1. Find ALL Bayesian Nash Equilibrium of the market entry game between Save
on Food
Problem Set 2
Intermediate Microeconomics 2
January 29th, 2016
Sam Hwang1
Submit your solution individually. You can either type or handwrite. The deadline is
February 5th, Friday.
1
Definitions
Refer to the lecture notes.
2
Application
Problem 2.1. On pa
Problem Set I Solution
Intermediate Microeconomics 2
January 16th, 2016
Sam Hwang1
Submit your solution individually. The deadline is January 22nd, Friday. Throughout
this problem set, We are always going to assume that all decision makers Bernoulli utili
1
Econ. 303: Intermediate Microeconomics
Midterm 1 Answer Key
Winter 2011-2012
QUESTION ONE: MULTIPLE CHOICES (213=26 points). Please write your answer
(a,b, c, or d) on the bluebook. No explanation is needed or graded.
1. Suppose that the elasticity of d
Midterm 1 Logistics
University of British Columbia
Department of Economics
Econ 303: Midterm 1 Information
Professor Wei Li
Wei Li
Phone: 2-2839
Email: wei.li@ubc.ca
Office: 1015 Buchanan Tower
Office hours: T/Th 2-3 pm
1
Quickly read over the whole exam
Decision Making under Behavioral
Economics
Decision Making: the Behavioral
Economics Perspective
Behavioral economics
Same as standard econ: questions, approaches,
But with more psychologically realistic
assumptions
assumptions
Different preferences
Econ. 303: Intermediate Microeconomics
2011-2012, Term 2
Midterm 2 Solution
QUESTION ONE: MULTIPLE CHOICES (213=26 points). Please write your answer
(a,b, c, or d) on the exam. No explanation is needed or graded.
1.One criticism of the Bertrand pricing mo
Econ. 303: Intermediate microeconomics II
Professor Wei Li
2011-2012, Term 2
Problem set 2 Solution
QUESTION ONE: Answer all the following questions from the textbook.
Chapter 13: Q30
a.
The expected profit function for university i is:
mi
mi
mi + m j
i
Game Theory
Sam Hwang
January 17, 2017
1 / 125
Introduction to Game Theory
I
I
So far we have been only concerned with situations in which
individuals well-being depends only on the choices she makes
Now we want to study situations in which
1. Multiple in
Econ. 303: Intermediate microeconomics II
Professor Wei Li
2011-2012, Term 2
Problem set 4
DIRECTIONS:
1. Problem set 4 is posted on March 27 and due back in class on Thursday, April 5,
by the end of lecture. No late problem set accepted.
2. You are welco
Econ 303-002 Intermediate Microeconomics 2
Instructor: Sam Hwang (hwangii@mail.ubc.ca)
TA: Hong Chui (hongchui@alumni.ubc.ca)
Welcome to Econ 303-002. The objective of this course is to help you understand important concepts in
Microeconomics. In doing so
Review of Probability Theory
Sam Hwang
December 30, 2016
1 / 13
What is an experiment?
I
An experiment: any procedure that
1. can be infinitely repeated
2. has a set of possible outcomes
I
Example of experiments: rolling a dice
I
I
can it be infinitely re
Problem Set I
Intermediate Microeconomics 2
January 11th, 2017
Sam Hwang1
Submit your solution individually. The deadline is January 17th, Tuesday at the beginning of the class. Throughout this problem set, We are always going to assume that all
decision
Problem Set VI
Intermediate Microeconomics 2
April 11th, 2016
Sam Hwang1
This problem set is due on Friday April 22nd. You may slide it under my office door
(IONA 205) on or any time before midnight of April 22nd.
Problem 0.1. Your inital wealth is w and
Problem Set V
Intermediate Microeconomics 2
March 25th, 2016
Sam Hwang1
This problem set is due on Friday April 1st. Slide it under my office door (IONA 205).
Problem 0.1.
(a) Find all Nash equilibria of the following game
Solution. Lets consider only pur
Logistics: final exam
University of British Columbia
Department of Economics
Econ 303: Final Information
Professor Wei Li
Li
Phone: 2-2839
Email: weiliubc@interchange.ubc.ca
Office: 1015 Buchanan Tower
Final week office hours: Tuesday, April 10, 1012noon.
University of British Columbia
Department of Economics
Econ 303: Oligopoly and Monopolistic
Competition
Professor Wei Li
Phone: 2-2839
Email: wei.li@ubc.ca
Office: 1015 Buchanan Tower
Office hours: T/Th 2-3 pm
Overview
I. Conditions for Oligopoly?
II. Rol
Stackelberg Model
The difference from the Cournot game:
One firm decides the quantity before the other;
This decision is observable;
And it is credible that the quantity will be
produced
produced.
Firms produce differentiated or homogeneous
products.
University of British Columbia
Department of Economics
Econ 303: Decision making under
Uncertainty and over time
Professor Wei Li
Phone: 2-2839
Email: wei.li@ubc.ca
Office: 1015 Buchanan Tower
Office hours: T/Th 2-3 pm
1
How to measure risk?
A probabilit
St. Petersburg Paradox
Uncertainty and Consumer Behavior
In economic decisions, expected payoff/value
is not the only thing
How much would you pay to participate in the
following gamble? (Nicholas Bernoulli, 1713)
You pay a fixed fee to enter the gambl
4/3/2012
Less-informed Players
Moral hazard
Screening
Creating situations in which the betterinformed opponents observable actions
reveal their unobservable traits.
their unobservable traits
Incentive Schemes
Creating situations in which observable
ou
Midterm 2 Logistics
University of British Columbia
Department of Economics
Econ 303: Midterm 2 Information
Professor Wei Li
Wei Li
Phone: 2-2839
Email: wei.li@ubc.ca
Office: 1015 Buchanan Tower
Office hours: T/Th 2-3 pm
1
Midterm 2: Thursday Mar. 15, in c
Econ. 303: Intermediate microeconomics II
Professor Wei Li
2011-2012, Term 2
Problem set 3 solution
QUESTION ONE: Answer all the following questions from the textbook.
1. Chapter 16: Q19
E(FNJ) 0.25 300 0.75 0 75
E(YNJ) 0.25 0 0.75 300 225
E(UNJ) 0.25 (0)
Econ. 303: Intermediate microeconomics II
Professor Wei Li
2011-2012, Term 2
Problem set 4 Solution
QUESTION ONE: Answer all the following questions from the textbook.
1. Chapter 16: Q32
Answer:
a. The retailers expected utility of stocking a copy is:
EU1
Problem Set III
Intermediate Microeconomics 2
February 12th, 2016
Sam Hwang1
This problem set is due on Tuesday, February 23rd in class.
1
Definitions
Refer to the lecture slides
2
application
Problem 2.1. Recall Matching Pennies version 2, where player 2
Problem Set VI
Intermediate Microeconomics 2
April 11th, 2016
Sam Hwang1
This problem set is due on Friday April 22nd. You may slide it under my office door
(IONA 205) on or any time before midnight of April 22nd.
Problem 0.1. Your inital wealth is w and
Midterm Exam
Intermediate Microeconomics 2
February 25th, 2016
Sam Hwang1
Problem 0.1. Below is a table of prizes and probability of winning each prize for an imaginary lottery called UBC-ball
Prize ($)
$5000
$1000
$250
$100
$50
$0
Probability
1
1000
1
50
Choice Under Uncertainty
Sam Hwang
January 3, 2017
1 / 116
Welcome to Econ 303-002
I
Instructor: Sam Hwang (hwangii@mail.ubc.ca, IONA 205)
I
TA: Hong Chui (hongchoi@alumni.ubc.ca)
I
Lecture: Tuesdays and Thursdays 12:30 to 14:00
I
TA session: Thursdays 5: