资源描述：
《哈维罗森财政学课后答案chapter》由会员上传分享，免费在线阅读，更多相关内容在教育资源-天天文库。
1、Chapter3-ToolsofNormativeAnalysisChapter3–ToolsofNormativeAnalysis1.a.Inthisparticularinsurancemarket,onewouldnotexpectasymmetricinformationtobemuchofaproblem–theprobabilityofafloodiscommonknowledge.Moralhazardcouldbeanissue–peoplearemorelikelytobuildnearabeach
2、iftheyhavefloodinsurance.Still,onewouldexpectthemarketforfloodinsurancetooperatefairlyefficiently.b.Thereissubstantialasymmetricinformationinthemarketsformedicalinsuranceforconsumersandalsomalpracticeinsuranceforphysicians.Forefficientconsumption,thepricemustbe
3、equaltothemarginalcost,andtheeffectofinsurancemaybetoreducetheperceivedpriceofmedicalcareconsumption.Thatwouldleadtoconsumptionabovetheefficientlevel.Becauseoftherolesofregulation,insurance,taxes,andtheshiftingofcostsfromtheuninsuredtotheinsured,thereislittlere
4、asontoexpectthemarkettobeefficient.c.Inthestockmarket,thereisgoodinformationandthousandsofbuyersandsellers.Weexpect,ingeneral,efficientoutcomes.d.Fromanationalstandpoint,thereisagooddealofcompetitionandinformationwithregardstopersonalcomputers.Theoutcomewilllik
5、elybeefficientforcomputerhardware.However,somefirmsmightexercisesomemarketpower,especiallyinthesoftwaremarket;inthesemarkets“networkexternalities”maybepresentwherethevalueofaprogramminglanguageorpieceofsoftwareisdependentonthenumberofotherswhoalsousethatsoftwar
6、e.e.Theprivatemarketallocationislikelyinefficientwithoutgovernmentintervention.Studentloanmarketsmaysufferfromasymmetricinformation–thestudentknowsbetterthanthelenderwhetherhewillrepaytheloanordefaultonit,aformofadverseselection.Governmentinterventiondoesnot“so
7、lve”theadverseselectionprobleminthiscase(becauseparticipationinthestudentloanprogramisnotcompulsory),butitmaycreateamarketthatwouldnotexistwithoutintervention.f.Thereareseveralreasonswhyautomobileinsuranceprovisionislikelytobeinefficientwithoutgovernmentinterve
8、ntion.Aswithotherinsurancemarkets,theautomobileinsurancemarketsuffersfromasymmetricinformation.Driverswhoknowtheyareparticularlyaccidentpronewillbeparticularlylikelytowantca
