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Quantum Microeconomics

Quantum Microeconomics

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Published by mriley@gmail.com

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Published by: mriley@gmail.com on Nov 03, 2008
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09/11/2012

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Quantum Microeconomics
Version 4.0September 2008Available with and without calculus athttp://www.smallparty.org/yoram/quantumEmail contact:yoram@smallparty.org
This work is licensed under the Creative Commons Attribution-NonCommercial 3.0Unported License. To view a copy of this license, visit Creative Commons online athttp://creativecommons.org/licenses/by-nc/3.0/.
 
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Contents
1.1 Decision trees. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 151.2 Example: Monopoly. . . . . . . . . . . . . . . . . . . . . . . . . 16
2.1 Lump sums. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 202.2 Annuities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 212.3 Perpetuities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 222.4 Capital theory. . . . . . . . . . . . . . . . . . . . . . . . . . . . 23
3.1 Nominal and real interest rates. . . . . . . . . . . . . . . . . . . 313.2 Inflation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 323.3 Mathematics. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34
4.1 Reducing risk with diversification. . . . . . . . . . . . . . . . . . 38
5.1 No arbitrage. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 455.2 Rush-hour arbitrage. . . . . . . . . . . . . . . . . . . . . . . . . 465.3 Financial arbitrage. . . . . . . . . . . . . . . . . . . . . . . . . . 47
6.1 Some applications of game theory. . . . . . . . . . . . . . . . . . 546.2 Cake-cutting: The problem of fair division. . . . . . . . . . . . . 556.3 The importance of trade. . . . . . . . . . . . . . . . . . . . . . . 58iii

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