(Differences in Culture)
Culture Code .
a set of images that are associated with a particular set
of stereotypes in our minds
What is Culture?
a system of values and norms that are
shared among a group of people and
that when take
Problem 1 No, just an invitation to offer.
Problem 2 Yes, because it is related to Unilateral contract.
Problem 3 No, offer must be communicated to offeree by offeror.
Problem 4 No, counteroffer by Esther.
Problem 5 No, because there is no considera
Exchange Economies (revisited)
No production, only endowments, so
no description of how resources are
converted to consumables.
General equilibrium: all markets
1st and 2nd Fundamental Theorems
Financial Econometrics (C. Min)
Linear Regression Models
1. A Linear Regression Model
The main purpose of using linear regression models is to identify determining factors
for a variable of our interest. The population linear regression mo
Two consumers, A and B.
Their endowments of goods 1 and 2
( 1 , 2 ) and ( 1 , 2 ).
E.g. ( 6,4 ) and ( 2, 2).
The total quantities available
are 1 1 6 2 8 units of good 1
2 2 4 2 6
In any Nash equilibrium (NE) each player
chooses a best response to the choices
made by all of the other players.
A game may have more than one NE.
How can we locate every one of a games
Ch.2 Simple Linear Regression Models (C. Min)
Simple Linear Regression Models
2.4 Hypothesis Testing
In the regression of , the null hypothesis implies that X
has no relation with Y, in other words, the information on X does
Ch.1 A Review of Hypothesis Testing (C. Min)
A Review of Hypothesis Testing
The goal of testing statistical hypotheses is to determine whether sample information from
a population supports a statistical hypothesis postulated, or whether empirica
Different economic states will be
preferred by different individuals.
How can individual preferences be
aggregated into a social
preference over all possible
x, y, z deno
Topic 1. Basic Concepts
- asset returns
- present value
Topic 2. Linear Regression Models
- unbiasedness, efficiency and consistency of the OLS estimator
- CAPM, test of the CAPM
- Multi- and three-factor models
- FM regre
(3 14 )
Lecture 3 Exercise Questions
Domain: F, C
Supply function: q=1000p-150
q +b q, p 600 0.75 b=0.15.
q , q=1000p-150
Demand function: q=-500p+870
q +b q, p 570 0.6