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Contract theory is a branch of law and economics that studies how economic actors construct contractual arrangements, especially in the presence of information asymmetry. It covers topics such as moral hazard, adverse selection, signalling, and optimal schemes of managerial compensation.
AP U.S. History (or APUSH) is a college-level course and exam that covers nine periods of U.S. history from pre-Columbian era to present day. Learn about the course framework, textbooks, exam format, scoring, and controversies of this Advanced Placement program.
Freedom of contract is the process in which individuals and groups form contracts without government restrictions. Learn about its history, legal implications, and criticisms in the US and the UK.
Learn about the course and exam offered by the College Board for high school seniors who are interested in exploring and analyzing challenging classical and contemporary literature. Find out the recommended reading list, the grade distributions, and the scoring process of the AP English Literature and Composition exam.
Learn about the history, format, grading, and subjects of AP exams, which are standardized tests offered by the College Board in the US. AP exams are the culmination of year-long courses that students can take in high school to earn college credit or placement.
Learn about the course and exam offered by the College Board as part of the Advanced Placement Program. Find out the exam format, scoring, and topics covered in this study of rhetoric and writing.
Adverse selection is a market problem where one party has more information than the other and can benefit from a contract or trade. Learn how adverse selection affects insurance, capital markets, and the used car market, and how it can be mitigated by risk selection, regulation, or risk adjustment.
AP United States Government and Politics is a college-level course and exam offered by the College Board. It covers the structure and function of American government and politics, from the Constitution to civil rights and liberties, political parties and interest groups, and public policy.