信息不对称市场若干问题再分析

Analysis on Several Issues of Asymmetric Information Market

文章通过对柠檬市场、保险市场逆向选择、败德行为、劣币驱逐良币等问题的再分析,认为在短期内,信息不对称市场可能存在不均衡,但从长期看,信息不对称市场本质也是均衡的。在信息不对称的情况下,市场最终会产生两种情况:一种情况是市场会分化,即质量高的商品归入一类市场,质量差的商品归入另一类市场;另一种情况是市场商品交易期限会拉长,好商品会等待识货者,而不是轻易抛出。另外,在信息不对称情况下,次品市场中一些交易不合理的情况主要出现在短期交易中,但不太可能成一种普遍现象。

By analyzing such issues as the market for lemons, insurance market adverse selection, immoral behavior,bad money driving out good ones, this article holds that asymmetric information market might be imbalanced in the short term, but essentially it will be balanced in the long run. Under circumstance of asymmetric information, the market will finally produce two results: on the one hand, the market will divide, that is, high quality products are classified into a market while poor quality products into another market; on the other hand, the trade deadline of commodity on the market will extend as good quality commodities will wait for their real buyers instead of being easily sold out. In addition, under circumstance of asymmetric information, some unreasonable transactions in the market for lemons mainly exist over short term but are unlikely to become a universal phenomenon.