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来源类型 | Discussion paper |
规范类型 | 论文 |
来源ID | DP3630 |
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 |
URL | https://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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