中文摘要：

经济中悖德行为自然有其经济之道。信息经济学认为悖德行为是由外生性信息与契约问题造成的。笔者基于垄断价格的经济效应的分析，发现垄断价格的再分配效应具有持续累积的效应，能够系统性地改变垄断定价中弱势群体的成本或收益的水平，扭曲自由竞争环境和平等交易的均衡选择，激励该群体以悖德行为替代受损的经济利益。解决悖德行为问题的思路，不是源于外在的不对称信息、不完全契约，而是内生于恢复交易双方的对等性和建立健全利益补偿的机制，以对道德问题进行有效补救，回归市场的公正与均衡。

英文摘要：

In the fields of economy, the behavior of moral hazard should comply with economic principles. In the view of information economics, moral hazard is the results of the exogenous problems of information or contracts. On the basis of economic effects of monopoly price, the paper found that the redistribution effect of the monopoly price has the property of persistence and accumulation effect which could systematically change the level of cost or revenue of the weaker, distort the perfect competition and the equilibrium selection of equal exchange, and cause the weaker substitute interest for morality. It suggested that the routine of resolving moral hazard lies not in the exterior asymmetry information or incomplete contract, but in the restoration of equal exchange and the sound mechanism of interests＇ compensation for the weaker, by which we could remedy for the problems of moral hazard and return to the equity and justice and the equilibrium of market.