文档介绍：1 Summary ? Market failure – the inadequate expression of costs or benefits in prices and thus into microeconomic decision-making in markets . – The word "failure" here is generally not intended to mean an economic collapse, or a breakdown in market relations. Market failure is a claim that the market process is failing to result in maximum efficiency. – A market might be efficient, but some in society might think things were better with more stability, or more growth, or more equity. 2 SummaryII ? Types of market failure – Market power ? Monopoly , Monopsony * , Oligopoly , Cartel , Oligopsony , petition , price discrimination , price skimming – Externality ? Inadequate expression of costs or benefits in prices and economic decision-making ? Pure Public goods ( nonrivalrous & nonexcludable ) --> Free Riders, Underprovision ? Common-pool resource ( rivalrous & nonexcludable ) --> Tragedy of mons, Free Riders, Overuse – Transaction cost ? Search, Measurement, Inventory, and Decision Making Costs ? Bargaining munication Costs ? Market Regulation, Policing, Property Rights & Contract Enforcement, and Litigation Costs – Imperfect Information / Information asymmetry ? plete markets ? Adverse selection - people who are high risk are more likely to buy insurance ? Moral hazard - behave recklessly if insured ? Quality uncertainty - see also The Market for Lemons – Organizational Failures ? Principal-agent problem & Split Incentives Problem ? Force of Habit Rules ? Lack of Organizational learning Email:******@jmu. 财政学财政决策机制与政府失灵 4本章基本结构与重、难点?掌握财政决策机制及其特点?财政决策主体及其行为特征?理解政府失灵的原因及其矫正方法市场选择与公共选择的区别偏好的选择与汇总林达尔均衡简单多数票原则中间投票人定理投票悖论及出现原因阿罗不可能定理选民行为-为何出现对投票的冷漠 -为何还有这么多人投票( minimax ) 利益集团行为,寻租模型- (图洛克,1967) 政治家与政党行为(唐斯) 官员行为模型(尼斯卡宁, 1967) 5 公共选择与政治均衡?公共部门配置资源的特点–供给决策?私人产品由厂商作出,公共产品由政治家及官员作出–需求决策?私人产品以货币为选票进行分散选择的过程, 公共产品以政治选票进行公共选择的过程。?公共选择( public choice ):指投票者(纳税人)依据一定的规则,共同确定集体行动方案的过程。 6政治均衡?和经济市场一样,政治市场也存在供求双方的相互