Perceptions of Fairness and Allocation Systems
AbstractThis paper explores the conditions of acceptability of differing allocation systems under scarcity and evaluates what makes a price system more or less fair. We find that fairness in an allocation arrangement depend on the institutional settings inherent in the situation, such as information, transparency and competition and the perceived institutional quality (e.g., fiscal exchange and institutional trust). Results also indicate that the solution “weak people first” is seen as the fairest approach to an excess demand situation, followed by “first come, first serve”, the price system and an auction system. On the other hand, a random procedure or an allocation through the government is not perceived to be fair. Moreover, economics students seemed to be less sceptical towards the price system than other subjects although we observe that female students are more sceptical than male students.
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Bibliographic InfoArticle provided by Queensland University of Technology (QUT), School of Economics and Finance in its journal Economic Analysis and Policy (EAP).
Volume (Year): 40 (2010)
Issue (Month): 2 (September)
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Web page: http://www.journals.elsevier.com/economic-analysis-and-policy/
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Fairness; Allocation System; Excess Demand; Price System; Institutions;
Find related papers by JEL classification:
- D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
- D40 - Microeconomics - - Market Structure and Pricing - - - General
- C99 - Mathematical and Quantitative Methods - - Design of Experiments - - - Other
- D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
- D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
- A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
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