第17章信息不对称的市场.pptVIP

Chapter 1 第 17 章 信息不对称的市场 本章要讨论的问题 质量不确定性与柠檬市场 市场信号 道德风险 委托代理问题 本章要讨论的问题 一体化企业的管理激励问题 劳动力市场的信息不对称: 效率工资理论 引言 我们将研究不完全信息对资源配置和价格机制所产生的影响。 质量不确定与柠檬市场 在购买一辆二手车时，由于信息不完全，将增加购买的风险并降低消费者的效用； 质量不确定与柠檬市场 二手车市场 假定 买卖双方都能鉴别高质量和低质量的车； 将会出现两个市场； 柠檬问题 Quality Uncertaintyand the Market for Lemons The Market for Used Cars With asymmetric information: Low quality goods drive high quality goods out of the market. The market has failed to produce mutually beneficial trade. Too many low and too few high quality cars are on the market. Adverse selection occurs; the only cars on the market will be low quality cars. Implications of Asymmetric Information Medical Insurance Question Is it possible for insurance companies to separate high and low risk policy holders? If not, only high risk people will purchase insurance. Adverse selection would make medical insurance unprofitable. Implications of Asymmetric Information Automobile Insurance Questions What impact does asymmetric information and adverse selection have on insurance rates and the delivery of automobile accident insurance? How can the government reduce the impact of adverse selection in the insurance industry? Implications of Asymmetric Information The Market for Credit Asymmetric information creates the potential that only high risk borrowers will seek loans. Question How can credit histories help make this market more efficient and reduce the cost of credit? Implications of Asymmetric Information The Importance of Reputation and Standardization Asymmetric Information and Daily Market Decisions Retail sales Antiques, art, rare coins Home repairs Restaurants Implications of Asymmetric Information Question How can these producers provide high-quality goods when asymmetric information will drive out high-quality goods through adverse selection. Answer Reputation Implications of Asymmetric Information Question Why do you look forward to a Big Mac when traveling even though you would never consider buying one at home. Holiday Inn on