G2TT
来源类型Discussion paper
规范类型论文
来源IDDP3630
DP3630 The Corporate Governance Role of the Media
Luigi Zingales; Alexander Dyck
发表日期2002-11-20
出版年2002
语种英语
摘要This Paper analyses the welfare effects of price restrictions on private contracting in a world where agents have a limited cognitive ability. People compute the costs and benefits of entering a transaction with an error. The government knows the distribution of true costs and benefits as well as that of errors. By imposing constraints on transaction prices, the government eliminates some that are on average inefficient ? because the price signals that one of the parties has typically grossly overestimated its benefit from participation. This policy may increase aggregate welfare even though some of the transactions being blocked are actually efficient. The Paper also studies the extent to which the use of private consultants with sufficient intelligence by people with limited intelligence may dominate government regulation.
主题Labour Economics
关键词Cognitive ability Minimum wages Regulation Price control Paternalism Intelligence
URLhttps://cepr.org/publications/dp3630
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/532638
推荐引用方式
GB/T 7714
Luigi Zingales,Alexander Dyck. DP3630 The Corporate Governance Role of the Media. 2002.
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