DBS IB Economics (HL) - Microeconomics: Information asymmetry

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DBS IB Economics (HL) - Microeconomics: Information asymmetry

  1. 1. !DBS IB Economics - Market Failure Ahh… it ’s HLInformation AsymmetryFelex LauJon LiuNick Wong
  2. 2. 1Information toSellers > Buy er ! s
  3. 3. Informa tion no to cons t told umers
  4. 4. Informa tion no to cons t told umers less Consum ers know ould tha n they sh
  5. 5. GovernmentResponse?
  6. 6. gulat ionRe Government Response?
  7. 7. gulat ionRe Government Response?
  8. 8. gulat ionRe Government Response? Provision of Information
  9. 9. gulat ionRe Government Response? Provision of Information
  10. 10. Licensure gulat ionRe Government Response? Provision of Information
  11. 11. Licensure gulat ionRe Government Response? Provision of Information
  12. 12. InfBuye ormati rs > S 2 on to! ellers
  13. 13. “Moral Hazard”
  14. 14. “Moral Hazard” …but doesn’t face the cost of the risks.
  15. 15. e insurance marketTh
  16. 16. Adverse Selection
  17. 17. Market ofhealth insuran ce
  18. 18. Safety in workplace
  19. 19. Safety in workplace Hidin g safety risks
  20. 20. 3R ecap
  21. 21. Regulation Government response:Sellers > Buyers Provision of Information Licensure “Moral Hazard”Buyers > Sellers Adverse Selection Safety in Workplace
  22. 22. The End.Thanks!
  23. 23. References     Bilingual   Laws   Informa1on   System.   Department   of   Jus2ce,   n.d.   Web.   24   Oct   2012.   <h>p://www.legisla2on.gov.hk/blis_ind.nsf/WebView?OpenAgent&vwpg=CurAllEngDoc*100*100*123#123>    Coyoty.  “Blue  Screens  of  Life”.  Photograph.  Flickr.  Yahoo,  26  Oct  2011.  Web.  22  Oct  2012.  <h>p://www.flickr.com/photos/30679992@N06/6286930267/>     Davidson,   Kelly.   “Shopping   Cart”.   Photograph.   Flickr.   Yahoo,   13   Jan   2011.   Web.   24   Oct   2012.  <h>p://www.flickr.com/photos/kellydavidson/5352106637/>     “Food   labelling”.   Centre   for   Food   Safety.   The   Government   of   the   Hong   Kong   Special  Administra2ve   Region,   22   Aug   2012.   Web.   24   Oct   2012.   <h>p://www.cfs.gov.hk/english/consumer_zone/foodsafety_labelling.html>     Hao,   Zheng.   “食物标签:了解它为你的饮食做更健康的选择”.   Nutri1on   Duo.   N.p.,   Aug   2010.  Web.  24  Oct  2012.<h>p://nutri2onduoch.blogspot.hk/2010/08/blog-­‐post.html>    “’How  to  Apply’  Series  and  FAQ”.  Food  and  Enviornmental  Hygiene  Department.  The  Government  of   the   Hong   Kong   Special   Administra2ve   Region,   27   Feb   2012.   Web.   24   Oct   2012.   <h>p://www.fehd.gov.hk/english/faq/licence/what_types_of_licences.html>     IB   Learner   Profile   Booklet.   Interna2onal   Baccalaureate:   Cardiff,   2008.   Web.   <h>p://ibo.org/programmes/profile/documents/Learnerprofileguide.pdf>     “iPhone   5   Teardown”.   iFixit.   N.p.,   n.d.   Web.   22   Oct   2012.   <h>p://www.ifixit.com/Teardown/iPhone+5+Teardown/10525/5>     lungstruck.   “Medica2on”.   Photograph.   Flickr.   Yahoo,   5   Mar   2010.   Web.   24   Oct   2012.   <h>p://www.flickr.com/photos/lungstruck/4409421695/>     Stolk,   Gerard.   “Sale”.   Photograph.   Flickr.   Yahoo,   28   Dec   2011.   Web.   22   Oct   2012.   <h>p://www.flickr.com/photos/gerardstolk/6587076433/>     Who’s   Photo?.   “Council   House   safety   net   &   lights”.   Photograph.   Flickr.   Yahoo,   29   Dec   2010.  <h>p://www.flickr.com/photos/whosphoto/5304003468/>    

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