制度的功能问题分析（Analysis of the function of the system）.doc

制度的功能问题分析（Analysis of the function of the system） Analysis of the function of the system Key words: system function, core function, concrete function, incentive and restriction, New Institutional Economics The functions of the system are varied and hierarchical. The hierarchy of system function refers to the function of the system, which has the core function and the concrete function, and the core function of the system is realized through concrete function. The core function of the system is to provide incentive and restriction for the main economic activities of the economic man, and this core function is realized by reduce uncertainty and transaction cost and external specific function. First, the new institutional economists discuss the function of the system People want to realize the function of system and purpose in the period of designing system. New institutional economists of the earliest system function reveals that Kos founder of the New Institutional Economics (Coase) (1937), he found that the transaction cost and enterprise system instead of the market because it is a long-term trading between the factor owners (contract) instead of a series of short term market transaction (contract) to save the transaction costs. Demsetz (Demsetz, 1967) reveals that the property right system has the function of encouraging people to form reasonable expectations and internalizing externalities. Schultz (Schultz, 1968) discusses the five functions of the system: providing convenience, reducing transaction costs, providing information, taking risks and providing public goods (services). He said: the system is the provider of some services, they can provide convenience, convenience is one of the characteristics of money.. They can provide a transaction cost reduction contracts, such as lease, mortgage and futures; they can provide information, as the market and economic planning in the way; they can share the risk, this is one of the insurance company, and the character