Economics and Philosophy
The Role of Information in Choice, An Economic Perspective
Spring/Summer 2006

Professor:    Roger D. Congleton

Office :       GW II 02.25
Phone:     55 - 4208  office    


Esyphus Library.
Office Hours:  Wednesday and Thursday 10:15 - 11:45, and most other times by appointment .

Suggested Texts:
Mokyr, Joel (2004) The Gifts of Athena : Historical Origins of the Knowledge Economy (Paperback) Princeton: Princeton University Press.

Some Useful Links
Dates Lectures Suggested Readings 
20/4 Prof Congleton is out of town. Do background reading and familiarize oneself with the syllabus and website. Mokyr (2004): Information and History
11/5 I. Rational Choice and the Two Kinds of Imperfect Information
In Defense of Ignorance
II. Statistical representations of information, theories, and states of the world. Bayes Law
25/5 III.Rational decision making under risk and uncertainty. Knight, F.H. (1921) Risk Uncertainty and Profit
1/6 IV.  Heterogeneous Information and Markets as an Information Aggregating Institutional Arrangement Hayek, F. A. (1945) The Use of Knowledge in Society
8/6 V. Rational Search for Useful InformationStigler, G. J. (1961) The Economics of Information.
15/6 VI.  The Strategic Provision of Information
Spence, A. M. (2001) Signaling in Retrospect.
22/6 VII Rational Expectations in Economic Models
Sargent, TJ (2002) Rational Expectations
29/6 VIII. Rational Ignorance, Voters, and Electoral Bias
6/7 XI.Condorcet's Jury Theorem and Majority Rule
RDC: Informational Limits to Democratic Public Policy
XII. Evolution and Society as Information Filters
20/7  XIII. Information Markets

XIV. Overview: the role of information in choice
Final Exam E-mailed to Congleto@GMU.EDU

30/9 (papers due)
Final Papers Due--via e-mail--to:
Ideas for Paper Topics

Course Grades : 

     2 pointers: Final Exam 100%
    10 pointers: Final Exam 20% + Final 15-20 page paper 80%