Allocation of Goods by Lottery
AbstractMany authors have argued that lotteries are used to allocate resources because of the fairness of the mechanism. However, a number of historical examples suggest otherwise. Participation fees are almost always charged and they are often discriminatory. In addition, goods (or bads) allocated by lotteries are usually not transferable. Both lottery participation fees and restrictions on transferability reduce rent-seeking from speculators. Each feature increases the rents to the primary user groups relative to the rents attainable from alternative mechanisms such as auctions, queues, or merit allocations. Copyright 1994 by Oxford University Press.
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Bibliographic InfoArticle provided by Western Economic Association International in its journal Economic Inquiry.
Volume (Year): 32 (1994)
Issue (Month): 3 (July)
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- Ohler, Adrienne & Chouinard, Hayley H. & Yoder, Jonathan K., 2007. "Welfare Trade-offs between Transferable and Non-Transferable Lotteries," 2007 Annual Meeting, July 29-August 1, 2007, Portland, Oregon 7363, Western Agricultural Economics Association.
- Chu, Singfat, 2012. "Allocation flexibility and price efficiency within Singapore’s Vehicle Quota System," Transportation Research Part A: Policy and Practice, Elsevier, vol. 46(10), pages 1541-1550.
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- Evans, Mary F. & Vossler, Christian A. & Flores, Nicholas E., 2009. "Hybrid allocation mechanisms for publicly provided goods," Journal of Public Economics, Elsevier, vol. 93(1-2), pages 311-325, February.
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- Taylor, Grant A. & Tsui, Kevin K. K. & Zhu, Lijing, 2003. "Lottery or waiting-line auction?," Journal of Public Economics, Elsevier, vol. 87(5-6), pages 1313-1334, May.
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