chap22微观经济学前沿(经济学原理曼昆中英文双语).ppt

22 Frontiers of Microeconomics 微观经济学前沿 ASYMMETRIC INFORMATION不对称信息 A difference in access to relevant knowledge is called information asymmetry. 获得相关知识的差别被称为信息不对称。 Hidden Actions: Principals, Agents, and Moral Hazard Moral Hazard Moral hazard refers to the tendency of a person who is imperfectly monitored to engage in dishonest or otherwise undesirable behavior. Employers can respond to the moral-hazard problem in various ways: Better monitoring. High wages. Delayed payment. 隐蔽性行为:委托人、代理人及道德危险 道德危险 道德危险—— 一个没有受到完全监督的人从事不忠诚或不合意行为的倾向。 雇主可以用各种办法对这个问题做出反应： 更好的监督 高工资 延期支付 Hidden Actions: Principals, Agents, and Moral Hazard Moral Hazard An agent is a person who is performing an act for another person, called the principal. The principal is a person for whom another person, called the agent, is performing some act. 隐蔽性行为:委托人、代理人及道德危险 道德危险 代理人—— 一个为委托人完成某种行为的人。 委托人—— 让代理人完成某种行为的人。 Hidden Actions: Principals, Agents, and Moral Hazard Adverse Selection Adverse selection refers to the tendency for the mix of unobserved attributes to become undesirable from the standpoint of an uniformed party. 隐蔽性行为:委托人、代理人及道德危险 逆向选择 逆向选择—— 从缺乏信息一方的角度看，无法观察到的特征混合变为不合意的倾向。 Hidden Actions: Principals, Agents, and Moral Hazard Example of Adverse Selection: Many times potential buyers may not even consider used cars because they surmise that the sellers know something bad about the cars. This is also known as the lemons problem. Insurance—People with hidden health problems are more likely to want to buy health insurance than those with good health In certain labor markets, if a firm reduces the wage it pays, high productivity workers tend to quit. 隐蔽性行为:委托人、代理人及道德危险 逆向选择的例子： 很多时候，潜在的买者也许根本不考虑购买二手车，因为他们猜测卖者知道车的毛病所在。这就是著名的柠檬问题。. 保险—有严重隐蔽性健康问题的人比其他正常健康的人更可能购买医疗保险。 在一些劳动市场上，如果企业降低它支付的工资，能力较强的工人就会离去。 Signaling to Convey Private Information How do Markets respond to Asymmetric Information? Signaling Signaling refers to an action taken by an informed party to reveal private information to