The Economics of Professional Ethics: Should the Professions be More Like Business?
比较了两种政策：让职业更像商业（靠监管防欺诈）和保留传统限制竞争安排（靠职业伦理防垄断），分析了各自的利弊。
Recent government policy has favored making the professions more like business. On this policy, cheating (exploitation of asymmetric information or neglect of externalities) is prevented by regulation; drawbacks include high transaction costs of regulation, and consequent dangers of ineffectiveness and adverse selection. This paper considers a possible rationalization of traditional competition-reducing arrangements in the professions, viewed as an alternative policy. These arrangements prohibit practices that offer a temptation to cheating, even at the cost of restricting competition. They rely on the prevalence of a distinctive professional morality in order to prevent restriction of competition from leading to monopolistic exploitation. Copyright 1991 by Royal Economic Society.