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信用と仲介 -OEMのケース-

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Title: 信用と仲介 -OEMのケース-
Other Titles: Goodwill and Intermediation:A Case of the Original Equipment_Manufacturer
Authors: 青木, 浩治
Authors (alternative): Aoki, Kohji
Issue Date: Feb-1986
Publisher: 長崎大学経済学部 / Faculty of Economis, Nagasaki University
Citation: 経済学部研究年報, 2, pp.49-67; 1986
Abstract: When there is information gap of product quality between sellers and buyers in the market place, such difficulties as the adverse selection and / or the moral hazard inevitably appear, and in an extreme case the market itself may be drived out of existence. While there are many phenomena that can be understood as the instituional devices to overcome the difficulties arising from information asymmetry, above all the social one which is called "goodwill" or "reputation" is widely observed and also has been considered the most important institution to cope with the problems. However, though many studies have been undertaken on the working of market under goodwill mechanism, their concerns were hardly directed to the economic activities to supplement its functional limits. This paper analyses the economic implications of intermediation from this viewpoint, where we exemplify the Original Equipment Manufacturer as its concrete analytical object. Specifically we show, using the simplified Von Weizsäcker model, the following points : 1. The well-working of goodwill mechanism creates the very incentive of intermediation. In this sense, the existence of goodwill mechanism is the cardinal precondition for it. 2. Intermediation has twofold effects : its "direct" effect is to save "quality premiums" which must be inevitably incurred by final buyers in goodwill mechanism, and its "indirect" or "external" effect is to produce the force against the Gresham's law. 3. As a result, intermediation gives rise to the income redistribution among final buyers.
URI: http://hdl.handle.net/10069/26114
ISSN: 09108602
Type: Departmental Bulletin Paper
Text Version: publisher
Appears in Collections:Volume 2

Citable URI : http://hdl.handle.net/10069/26114

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