柠檬市场：质量的不确定性与市场机制(中英对照).docVIP

柠檬市场：质量的不确定性与市场机制(中英对照) 柠檬市场：质量的不确定性与市场机制(中英对照) PAGE / NUMPAGES 柠檬市场：质量的不确定性与市场机制(中英对照) The Markets for “Lemons ”: Quality uncertainty and The Market Mechanism 柠檬市场：质量的不确立性和市场体制 Geogre A. Akerlof 阿克洛夫 一、前言 This paper relates quality and uncertainty. The existence of goods of many grades poses interesting and important problems for the theory of markets. （本文阐述的是质量和不确立性问题。现实中存在大批多种品位的物件给市场理论提出了饶有兴趣而十分重要的难题） On the one hand, the interaction of quality differences and uncertainty may explain important institutions of the labor market. （一方面，质量差异和不确立性的互相作 用能够解说劳动力的重要体制） On the other hand, this paper presents a struggling attempt to give structure to the statement: Business in under-developed countries is difficult; in particular, a structure is given for determining the economic costs of dishonesty. （另一方面，本 文试图经过议论获取这样的结论：在不发达国家，商业交易是困难的，此中，特 别论及了欺诈性交易的经济成本） Additional applications of the theory include comments on the structure of money markets, on the notion of insurability, on the liquidity of durables, and on brand-name goods. （本文的理论还可以够用来研究钱币市场、 保险可行性、耐用品的流动性和名牌商 品等问题） There are many markets in which buyers use some market statistic to judge the quality of prospective purchases.  （在很多市场中，买者利用市 场的统计数据来判断他们将要购置的商品的质量） In this case there is incentive for sellers to market poor quality merchandise, since the returns for good quality accrue mainly to the entire group whose statistic is affected rather than to the individual seller. As a result there tends to be a reduction in the average quality of goods and also in the size of the market. （在这类状况下，卖者有动力供应低质量商品，因为某种商品的 价钱主要取决于全部同类商质量量的统计数据而非该商品的实质质量。 结果，商 品的均匀质量将趋于降落，市场规模将不停减小） It should also be perceived that in these markets social and private returns differ, and therefore, in some cases, governmental intervention may increase the welfare of all parties. Or private institutions may arise to take advantage of the potential increases in welfare which can accrue to all parties. （我们 还可以够察看到在这类市场上，对个人和社会有不一样的回报，所以，某种状况下，