市场互联性_关系型合约与经济转型

3:,()():,,,;,,,,,,,;,,,,,:3,,:200433,:[e-mail],KaushikBasu,JonathanLevin,,2005:(05CJL014)(TED),ChinaResearchForum,SteveLehrer,80,,,,809%,,,Sachs(2000),,,;,,,,,,,,??,9720066MaskinandDewatripont(1995),MU,Qian(1994),QianandRoland(1998),Qian(1988),Qian(1999)QianandWeingast(1996),():,;M,,M;,,,,:,,,,,,(),(Li,2003):(relation2basedgovernance),(rule2basedgovernance),,(),:,,(set2upcost),:,,(),;,,:(),(,,),:,,,,,,,,,;08:Basu(2001),,(),,;ShleiferMulligan(2005),,,(),,(interlinking),,,,;,,,,,,,,(),,(governancefailure);,,,();;,;,:,,,,(0,1)t,Vu,,,,atA,A,att,atyi{y,y}ytF(y|a),f(x|a),f(y|a)PF(y|a)yiy,(),at,,,Wt:wtbt,Wt=wt+bt(1),,wt,bt,yt-Wt(2)Wt-(at,t)(3)1820066(),Levin(2003)BoltonandDewatripont(2005)BravermanandStiglitz(1982)tt,t{L,h},LH,(i.i.d),pr(=H)=,(),(a)0,(a)0,(0,)0=0,0,(a)0,(0,)=0,0,a0(3),(at),(t)Ey[y|a]-(a,)(4)E,aFB(),Ey[y|aFB]-(aFB,)s=V+u(5)Ey[y|0]-(0,)s(6)(4)(5),S(a,)Ey[y|a]-(a,)(7),(perfectpublicequilibrium),:(a),at;(b),bt(yti),:yt,()at,tyt,att,,=1;,=0,Vt=(1-)E=1t-1[(yt-Wt)+(1-)V](8)()ut=(1-)E=1t-1{[Wt-(at,t)]+(1-)u}(9)(8)(9)E,,,,b;,11,b,,,1,1,,,,,;(),,()ss,,28:(FudenbergandMaskin,1994),,,ss,(s-s)01,[V+(s-s),u+(1-)(s-s)](10)(10)[V,u]2,,111AOB,,VOuN,ABRRs-s(11),,Levin(2003),,,,Wt=w+b(t),at=a3,,,,,,u3(s3-u3),a3(),s3maxa(1-)E[y-(a,)|a]+E[s3|a3](12)s.t.a3argmaxEw+b(t)+1-u3|a-(a,)(IC)(13)b(t)+1-u31-u(PC-A)(14)-b(t)+1-(s3-u3)1-V(PC-B)(15)(13),a3()(14),,,,,,3820066(15)(14)1-(u3-u)-b(t)(16)(16),-infb();,,(15)1-[(s3-u3)-V]b(t)(17)1-[V3-V]b(t)(18),supb(),,(17)(18),1-(s3-s)supb()-infb()SEC(19)(19)(12)(19),,,,,,,,,(),(),(),(,),,,,,,,,,,,;,,,,,,48:,,V1u1(),V2u2a1tA1,y1t{y1,y1},F1(y1t|a1t),f1(y1t|a1t),;,a2tA2,y2t[y2,y2],,,,()t,,W1tW1t=w1t+b1t(20)w1tb1t,ty1t-W1t(21)tW1t-1(a1t,1t)(22)1tt,1t{1L,1H},1L1H,,pr(1=1H)=1(),1(a1)01(a1)0,1(0,)=0,110,1a110,,2,,,,,,;,,,(b,),aFB(),Ey1t[y1t|aFB1]+Ey2t[y2t|aFB2]-1(aFB1,1)-2(aFB2,2)S1+S2(23)S1=V1+u1,S2=V2+u2Ey1t[y1t|0]+Ey2t[y2t|0]-1(0,1)-2(0,2)S1+S2(24)SInt(a1,a2,1,2)=Ey1[y1|a1]+Ey2[y2|a2]-1(a1)-2(a2)(25),,,,,,=1;,=0,tVintt=(1-)E=1t-1[(y1t-W1t)+(y2t-W2t)+(1-)(V1+V2)](26)t5820066uintt=(1-)E=1t-1[(W1t-1t(a1,1))+(W2t-2t(a2,2))-(1-)(u1+u2)](27),(),w,,b(),4,,S1+S2S1+S2,,,,,,01(S1+S2)-(S1+S2),(V1+V2+[(S1+S2)-(S1+S2)],u1+u2+(1-)[(S1+S2)-(S1+S2)])[V1+V2,u1+u2]5,,,VV,uuSS,(,),,1u1u1,V1V1,u2u2,V2V2,,,2u1u1,V1V1,u2u2,V2V2,u1+u2u1+u2,S1+S2S1+S2,(u1+u1),(u1+u2u1+u2),(,)3u1u1,V1V1,u2u2,V2V2,V1+V2V1+V2,S1+S2S1+S2,(V1V1),(V1+V2V1+V2),4u1u1,V1V1,u2u2,V2V2,u1+u2u1+u2,S1+S2S1+S2,(u2u2),(u1+u2u1+u2),5u1u1,V1V1,u2u2,V2V2,V1+V2V1+V2,S1+S2S1+S2,(V2V2),68:,6u1u1,V1V1,u2u2,V2V2,V1+V2V1+V2,u1+u2u1+u2,S1+S2S1+S26,,,,,,,?,7u1u1,V1V1,u2u2,V2V2,V1+V2V1+V2,u1+u2u1+u2,S1+S2S1+S276,,,,,,,6,,,(),6,,,,,,,3,7,,,,,,,1,,,,,u31u32,(S31-u31)(S32-u32),a31a32,S3maxa1,a2(1-)E[y1+y2-1(a1,1)|a1-2(a2,2)|a2]+E[S3|a31,a32](28)s.t.a31,a32argmaxEw1+b1(y1)+1-u31|a1-1(a1,1)-1(a1,1)+Ew2+b2(y2)+1-u32|a2-2(a2,2)(IC)(29)7820066b1(y1)+b2(y2))+1-(u31+u32)1-(u1+u2)(PC-A)(30)-b1(y1)-b2(y2)+1-(S31+S32-u31-u32)1-(V1+V2)(PC-B)(31)3(29),(30),,,,,(31)(30)1-[(u31+u32)-(u1+u2)]-(b1(y1)+b2(y2))(32)(32),-(infb1(y1)+infb2(y2)),,(32)1-((u31+u32)-(u+u2))-(infb1(y1)+infb2(y2))(33),(31)1-(S31+S32-u31-u32-V1-V2)b1(y1)+b2(y2)(34),(supb1(y1)+supb2(y2)),,,(34)1-(S31+S32-u31-u32-V1-V2)supb1(y1)+supb2(y2)(35)(33)(35),1-(S31+S32-S1-S2)supb1(y1)+supb2(y2)-infb1(y1)-infb2(y2)(SEC)(36)(36),(29)(36),,;,,1,u1u1,V1V1,u2u2,V2V2,,,()1,(1),,,,,:()(),,,,,,(,;)88:Kranton(1996),(),(),,,,,,,,uV,uV,;,uV,(28),(29)(30),^u^V,8,,uV,;,,uV,^u^V,,n(n2),,,,,n9(n),,n(nn):,,,,,,,,,(),,,,,,;,,,,,,,,:(98200662),,,,2,,,,,,,:,,;,,,,,,,,,,,,;,,,Basu,Kaushik,2001,TheRoleofSocialNormsandLawinEconomics:AnEssayonPoliticalEconomy,inScottandKeates(eds.),SchoolsofThought,PrincetonUniversityPress.Bolton,P.andM.Dewatripont,2005,ContractTheory,MITPress.Braverman,A.andJ.Stiglitz,1982,SharecroppingandtheInterlinkingofAgrarianMarkets,AmericanEconomicReview,Vol.72,No.4:6957151Dewatripont,M.andE.Maskin,1995,CreditandEfficiencyinCentralizedandDecentralizedEconomies,ReviewofEconomicStudies,Vol.62,No.4,5415551Fudenberg,D.andE.Maskin,1994,TheFolkTheoremwithImperfectPublicInformation,Econometrica,62(5),September,9971039109:Ramo(2004)Kranton,R.,1996,ReciprocalExchange:ASelf2SustainingSystem,AmericanEconomicReview,86,No.4:8308511Levin,J.,2003,RelationalIncentiveContract,AmericanEconomicReview,Vol.93,No.3:8358571Li,S.,2003,Relation2basedversusRule2basedGovernance:anExplanationoftheEastAsianMiracleandAsianCrisis,ReviewofInternationalEconomics,11(4),6516731Qian,Y.,1994,ATheoryofShortageinSocialistEconomiesBasedontheSoftBudgetConstraint.AmericanEconomicReview,84:1451561Qian,Y.andG.Roland,1998,FederalismandtheSoftBudgetConstraint.AmericanEconomicReview.88(5):114311621Qian,Y.,G.RolandandC.Xu,1988,CoordinatingChangesinM2FormandU2FormOrganizations,Mimeo,EuropeanCenterforAdvancedResearchinEconomicsandStatistics,UniversiteLibredeBruxelles.Qian,Y.,G.RolandandC.Xu,1999,WhyChinasDifferentfromEasternEurope?PerspectivesFromOrganizationTheory.EuropeanEco