Link to a previous version of the course

Take-home exam

The version of the exam here now includes answers. There is also a spreadsheet related to the answer to question 2.

Specifications for the short paper

Exercise on cascades, risk-sharing, and betting. Due Tuesday 5/8.

The version of the exercise linked above now includes answers

An Excel spreadsheet that checks for a solution in problem 2.

An R program that checks for a solution in Problem 2

An R program that checks for a solution. This program does not assume that the C's are given. It could be used with an iterative equation solver to find the solution for given beliefs and utilities, which I did in setting up the exercise.

Lecture notes

Bubbles and fundamentals

Tulip model

Banks and lending

Cascades, Bayes' rule

Link to Goeree et al paper

First lecture notes: Anatomy of bubbles and crashes

Notes on probability