Resources, Power, and Economic Interest Distribution in China

PrefaceResearch questionsExploration of the research questionsNotesPower and economic power paradigmThe concept of powerHistorical basis of the economic power paradigmPrimitive society: the gradual formation of power relationsAgricultural society: a relatively closed and unbalanced power structureEarly industrial society: from single-element to a multi-element power structureThe power structure of 20th century industrial societyThe logic behind the emergence of an economic power paradigmClassic assumptions of economic manPerfectly rational economic man in neoclassical economicsThe assumption of hounded rational economic manFrom transaction economic man to the contract economic manEconomic power and corporate contractual arrangementsThe formation and allocation of the corporate right of internal controlThe nature of the firm's contractThe view of power iv. the view of efficiencyThe residual value and Jinn’s right of controlThe firm’s pricing mechanism and interest distributionThe firm’s residual incomeEconomic power and corporate governanceThe firm's pricing function anti distributional effectsEconomic power and firm performanceCooperation between human capital and material capitalIncome distribution and the Jinn’s performanceNotesTheory of transaction price based on the power paradigmReview of price theoriesEquilibrium vs. disequilibrium price theoryThe price theory of new institutional economicsPrice theory of information economicsLimitations of existing price theoriesMarket power and its formationMarket power and its characteristicsThe subjects of power and market behaviorPower games and price formationRe-defining economic rationalityThe power games among market players and price equilibriumPrice determination in goods marketPrice dispersion in the e-commerce marketCommodity pricing properties Equilibrium price vs. transaction priceThe distribution function of priceTransaction mode and the bargaining processThe bargaining model and transaction priceEconomic power and market efficiencyNotesPrice determination in financial marketThe microstructure of financial marketsThe essence of financial goods pricing determinationThe power to decide interest rates and market interest rate determinationInterest rate determination in formal financial marketsInterest rate determination in informal financial marketsCapital, information, and the determination of securities pricingRe-thinking the equilibrium process of securities pricingImpact of the quantity of capital on pricing strategyNotesPrice determination in labor marketA review of labor market theoriesThe ordinary labor marketThe influence of collective wage negotiation by unionsThe highly skilled labor marketThe formation of a highly skilled labor marketCharacteristics of a highly skilled labor marketHuman-capitalization of skills and its effectsThe senior management labor marketThe emergence of the senior management labor market and related theoriesThe determination of senior management compensationManager’s incentives and compensation adjustmentTheoretical foundations and boundaries for government interventionMarket failure and economic power out of controlScope and manifestation of economic agent’s powerThe root cause of market failure: economic power out of controlTheoretical foundations for executive power intervention in economic activitiesThe limitation of market's ability to adjustGovernment regulations and adjustment controlsPower games among consumers, firms, and government based on externalitiesTheoretical boundaries for the intervention of government executive powerThe influence of government executive power on the boundaries of firms’ economic powerNash equilibrium of power games between consumers and firms with government participationCase study: the effects of government regulationNotesEconomic power structure and the optimal allocation of production factorsEconomic power and factor allocationThe symmetry between power and responsibility and economic efficiencyEconomic power and economic interest distributionPower reciprocity and market clearingInstitutional change with power as the underlying logicThe nature of institutionsEquilibrium of power games and the endogeneity of institutionsA model of economic institutional changeNotesConclusions of the research based on power paradigmProspects of the research based on power paradigmThe current situation of wealth distribution and the predicament of common prosperityThe way to the common prosperity under the power paradigmNotesAfterword
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