[Econfon] class 4 materials online

[Noemi Giszpenc]

Hey class,
Thanks to those who made it to class through the snow last night--we had a 
good time getting to the bottom of the theory and reality of supply and 
demand.

I've posted an updated version of my lecture notes on the website, along 
with the answers to problem set 3 and a brand-new problem set 4. There's 
also a link to the upcoming (April) issue of Scientific American, which has 
an article called "The Tyranny of Choice", about the negative psychological 
effects of trying to maximize (instead of satisfice). This has interesting 
implications for the economic theory we are learning. (The article is not 
currently online, but hopefully it will be soon.)

We actually only made it about half-way through my notes last night, so next 
week we'll be reviewing the conditions for perfect competition and then 
exploring industries that diverge from those conditions--those with firms 
that have market power (monopolies and oligopolies), and also markets that 
have information problems.

Happy St. Patrick's Day!
Noemi

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