In this interactive lecture, Professor of Economics, Christine Valente and Lecturer in Economics, Uta Bolt, introduce this general framework and then focus on an unexpected topic: demand for contraception. Using this framework and original data from Mozambique and Nigeria, they shed light on a major global issue widespread in low-income countries, namely that of low contraceptive use among women who say, if asked, that they do not want to get pregnant. In the process, they will give the audience a chance to make guesses on the data prior to discovering the results and both challenge the audience to think like an economist and let the audience challenge the economics.
Many decisions we make in life involve uncertainty: the consequences of choosing one course of action over another cannot be predicted exactly. In these situations, different people may make very different decisions simply because they hold different beliefs about the possible outcome of their choices. And individuals who are better informed about the consequences of their choices will make better decisions.
Professor of Economics, Christine Valente and Lecturer in Economics, Uta Bolt