悬赏150 论坛币，解决中微观不确定性和信息不对称问题，有意者站内联系，悬赏截至当日下午4时。

不确定性

First answer the following two questions about your preferences:

(a) You are given $5,000 and offered a choice between receiving an extra $2,500 with certainty or flipping a coin and getting $5,000 if it lands heads or $0 if it lands tails. Which option do you prefer?

(b) You are given $10,000 if you make the following choice: return $2,500 or flipping a coin and return $5,000 if it lands heads and $0 if it lands tails. Which option do you prefer?

Most people choose the sure $2,500 in the first case but flipping the coin in the second. Explain why this behavior is not consistent. What do you conclude about how people make decisions concerning uncertain events?


信息不对称

2 .
Consider the situation where there are two types of workers, high skilled and low skilled. The lifetime wage received by high skilled workers is wh. The lifetime wage received by low skilled workers is wl. The cost of education for a high skilled worker is c, while education is not available for a low skilled worker. A worker who obtains an education sends an effective signal of their skill level. The proportion of high skilled workers in the laborforce is p.

(a) Using an appropriate diagram, describe the regions in which a pooling and separating equilibrium may occur.

(b) Suppose that workers who obtain an education gain an intrinsic benefit from doing so (they love their economics class). How would the situation change? Is a separating equilibrium more or less likely? Illustrate on your diagram.
                                                                              
(c) Now suppose that wh(c) where dwh/dc > 0, d2wh/dc2 < 0 and wh(0) = wl. What does this mean in plain English? Is a separating equilibrium more or less likely? Illustrate on your diagram.