Markets with Asymmetric Information


Liran Einav

Date & Time

From: 23 June 2022
Until: 24 June 2022




The Institute for Fiscal Studies
7 Ridgmount Street,



Course description:
The course will focus on empirical research on insurance markets and credit markets. Both markets are plagued with various aspects of asymmetric information, including moral hazard and adverse selection. The industrial organization and competitive environment of such markets is not well understood, and the increased availability of excellent data from these markets makes them a great topic for empirical work. The narrow objective of the course is to bring students closer to the research frontier in the above areas. At a more general level, I hope to balance two objectives: learning how to identify and pose interesting questions, and learning how to formulate and execute empirical analysis that sheds light on these questions. I will also try to highlight the use of theory to guide hypothesis testing and the specification of empirical models.

Speaker Bio: 

Liran Einav is a professor of economics at Stanford University and a research associate in the National Bureau of Economic Research, where he is directing the Industrial Organization Program. Professor Einav’s areas of specialization are industrial organization and applied microeconomics. An important strand of his work is focused on insurance markets, including the development of empirical models of insurance demand and pricing, and empirical analyses of the implications of adverse selection and moral hazard. Much of Professor Einav’s current work is focused on healthcare markets. In the past he also studied consumer behavior and the pricing of subprime auto loans, competition in the motion picture industry, strategic commitment, and peer-to-peer internet markets. Professor Einav has served as a co-editor at the American Economic Review, Econometrica, and AEJ Applied. He received his undergraduate degree in computer science and economics from Tel Aviv University (Israel) in 1997, and his PhD in economics from Harvard University in 2002.

Schedule :

Day 1: Thursday 23rd June 2022

2:15PM – 2:45 PM Registration

2:45PM – 4:15PM Lecture 1

4:15PM – 4:30PM Refreshment Break

4:30PM – 6:00PM Lecture 2

Day 2: Friday 24th June 2022

9:30AM – 11:00AM Lecture 3

11:00AM – 11:15AM Refreshment Break

11:15PM – 12:45PM Lecture 4

12:45PM – 2:00PM Lunch

2:00PM – 3:30PM Lecture 5