How "hidden information" can lead to market failures, such as the Lemons Problem in used car markets. The Narrative and Experimental Turn
Andrew Schotter, a Professor of Economics at , challenges the traditional way microeconomics is taught. Instead of focusing solely on static mathematical models, his approach is built on an experimental economics framework .
: Unlike traditional texts that treat game theory as a separate chapter, Schotter integrates it throughout to explain how individual decisions lead to social outcomes.