不确定以及不对称信息条件下次品市场的正向选择.pdf

不确定以及不对称信息条件下次品市场的正向选择 ——对国有资产流失的分析 胡伟清1,2 1 重庆科技学院经济系（400050 ） 2 重庆大学经济与工商管理学院 （400044 ） email:winninghu@ 内容摘要 通过对不确定以 不对称信息条件下次品市场的分析，指出在资产产权不清、或 卖者不是资产所有者的情况下，市场均衡是正向选择，而不是逆向选择。卖者通过向目标 买者提供对资产有利的信息，而向其他买者提供不利信息，以保证目标买者以较低价格购 买相对优质的资产，并从目标买者那里得到贿金。因此，国有资产流失是必然的。政府要打 击贿赂等腐败行为，但关键不在于查处率的高低，而在于处罚的严厉。通过分析，本文得 到了一系列有意义的结论。 关键词：不确定性 不对称信息 次品市场 逆向选择 正向选择 国有资产流失 中图分类号：F06，F12 文献标识码： 文章编号： The Favourable Selections on the ‘Lemon Market’ Under Asymmetric Information and Uncertainty:An Analysis about the State-Owned Assets Loss HU Wei-qing (Department of Economics, Chongqing University of Science and Technology; School of Economics and Business Administration, Chongqing University) Abstract: When the property right is not clear, or the seller is not the owner, fovourable selection is the market equilibrium of ‘lemon market’ under the condition of uncertainty and asymmetric information. In order to make sure that the aim buyer can purchase the higher quality assets and obtain the bribe, the seller will provide favorable informations of the assets auctioned to the aim buyer and provide unfavorable informations to the other buyers. The State-Owned assets will be certainly lossed. Government should punish the malversation, but the key point of punishment is the degree of sanctions, not the rate of detecting. Moreover, a series of significative conclusions can be gained through the analyses. Key Words: Uncertainty, Asymmetric Information, ‘Lemon Market’, Adverse Selection, Favourable Selection, State-Owned ssets Loss JEL Classification: D820，D890 一、引言 Akerlof （1970）通过对次品市场的分析提出了逆向选择 （adver