Uncertainty in Decision Making - Lecture 20

Explore a comprehensive lecture on decision-making under uncertainty from MIT's Principles of Microeconomics course taught by Prof. Jonathan Gruber. Delve into theoretical models that explain how individuals and firms make choices when outcomes are unknown, covering key concepts such as information asymmetry, risk aversion, and expected utility theory. Learn practical frameworks for analyzing uncertain situations and understanding how economic agents respond to risk in various contexts. This 48-minute video is part of MIT OpenCourseWare's Fall 2023 microeconomics series, available under a Creative Commons BY-NC-SA license.