微观经济管理学与财务知识分析规范.ppt

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1、GovernmentPolicyandMarketFailuresChapter15LaugherCurveQ.Howmanyeconomistsdoesittaketoscrewinalightbulb?A.Eight.Onetoscrewitinandseventoholdeverythingelseconstant.IntroductionShouldthegovernmentinterveneinthemarket?Theframeworkpresentedmightbecalledtheinvisiblehandframework.Invisibl

2、ehandframework–perfectlycompetitiveleadindividualstomakevoluntarychoicesthatareinsociety’sinterest.MarketFailuresAmarketfailureoccurswhentheinvisiblehandpushesinsuchawaythatindividualdecisionsdonotleadtosociallydesirableoutcomes.MarketFailuresAnytimeamarketfailureexists,thereisarea

3、sonforpossiblegovernmentinterventionintomarketstoimprovetheoutcome.MarketFailuresBecausethepoliticsofimplementingthesolutionoftenleadstofurtherproblems,governmentinterventionmaynotnecessarilyimprovethesituation.ExternalitiesExternalitiesaretheeffectofadecisiononathirdpartythatisnot

4、takenintoaccountbythedecision-maker.Externalitiescanbebothpositiveandnegative.ExternalitiesNegativeexternalitiesoccurwhentheeffectofadecisiononothersthatisnottakenintoaccountbythedecision-makerisdetrimentaltothethirdparty.Examplesincludesecond-handsmoke,waterpollution,andcongestion

5、.ExternalitiesPositiveexternalitiesoccurwhentheeffectofadecisiononothersthatisnottakenintoaccountbythedecision-makerisbeneficialtoothers.Examplesincludeinnovation,education,andnewbusinessformation.NegativeExternalitiesWhennegativeexternalitiesensuethirdpartiesarehurt.Marginalsocial

6、costisgreaterthanmarginalprivatecost.NegativeExternalitiesMarginalsocialcostincludesallthemarginalcostsbornebysociety.NegativeExternalitiesMarginalsocialcostiscalculatedbyaddingthenegativeexternalitiesassociatedwithproductiontothemarginalprivatecostsofthatproduction.TheEffectofaNeg

7、ativeExternalityMarginalsocialbenefitMarginalprivatecostMarginalsocialcostCostQuantity0Q0P0Q1P1MarginalcostfromexternalityPositiveExternalitiesPrivatetradescanbenefitthirdpartiesnotinvolvedinthetrade.Marginalsocialbenefitequalsthemarginalprivatebenefitofconsumingagoodorserviceplust

8、hepositiveexternalitiesres