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Repugnance as a Constraint on Markets

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  • Alvin E. Roth

Abstract

This essay examines how repugnance sometimes constrains what transactions and markets we see. When my colleagues and I have helped design markets and allocation procedures, we have often found that distaste for certain kinds of transactions is a real constraint, every bit as real as the constraints imposed by technology or by the requirements of incentives and efficiency. I'll first consider a range of examples, from slavery and indentured servitude (which once were not as repugnant as they now are) to lending money for interest (which used to be widely repugnant and is now not), and from bans on eating horse meat in California to bans on dwarf tossing in France. An example of special interest will be the widespread laws against the buying and selling of organs for transplantation. The historical record suggests that while repugnance can change over time, change can be quite slow.

(This abstract was borrowed from another version of this item.)

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Bibliographic Info

Paper provided by UCLA Department of Economics in its series Levine's Bibliography with number 321307000000000629.

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Date of creation: 08 Dec 2006
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Handle: RePEc:cla:levrem:321307000000000629

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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  1. Alvin E. Roth & Tayfun Sonmez & M. Utku Unver, 2005. "Efficient Kidney Exchange: Coincidence of Wants in a Structured Market," NBER Working Papers 11402, National Bureau of Economic Research, Inc.
  2. Timur Kuran, 1995. "Islamic Economics and the Islamic Subeconomy," Journal of Economic Perspectives, American Economic Association, vol. 9(4), pages 155-173, Fall.
  3. Alvin E. Roth & Tayfun Sonmez & M. Utku Unver, 2004. "Pairwise Kidney Exchange," NBER Working Papers 10698, National Bureau of Economic Research, Inc.
  4. repec:reg:rpubli:259 is not listed on IDEAS
  5. Uri Gneezy & Aldo Rustichini, 2000. "Pay Enough Or Don'T Pay At All," The Quarterly Journal of Economics, MIT Press, vol. 115(3), pages 791-810, August.
  6. Alvin E. Roth & Elliott Peranson, 1999. "The Redesign of the Matching Market for American Physicians: Some Engineering Aspects of Economic Design," NBER Working Papers 6963, National Bureau of Economic Research, Inc.
  7. Christopher Avery & Christine Jolls & Richard Posner & Alvin E. Roth, 2007. "The New Market for Federal Judicial Law Clerks," NBER Working Papers 13213, National Bureau of Economic Research, Inc.
  8. Guillaume R. Fréchette & Alvin E. Roth & M. Utku Ünver, 2007. "Unraveling yields inefficient matchings: evidence from post-season college football bowls," RAND Journal of Economics, RAND Corporation, vol. 38(4), pages 967-982, December.
  9. Pathak, Parag A. & Abdulkadiroglu, Atila & Roth, Alvin, 2005. "The New York City High School Match," Scholarly Articles 2562765, Harvard University Department of Economics.
  10. Sönmez, Tayfun & Pathak, Parag A. & Abdulkadiroglu, Atila & Roth, Alvin, 2005. "The Boston Public School Match," Scholarly Articles 2562764, Harvard University Department of Economics.
  11. Atila Abdulkadiroglu & Parag A. Pathak & Alvin E. Roth & Tayfun Sönmez, 2006. "Changing the Boston School Choice Mechanism," Boston College Working Papers in Economics 639, Boston College Department of Economics.
  12. Kahneman, Daniel & Knetsch, Jack L & Thaler, Richard, 1986. "Fairness as a Constraint on Profit Seeking: Entitlements in the Market," American Economic Review, American Economic Association, vol. 76(4), pages 728-41, September.
  13. Wolfers, Justin & Zitzewitz, Eric, 2004. "Prediction Markets," Working paper 259, Regulation2point0.
  14. Roth, Alvin E & Murnighan, J Keith, 1982. "The Role of Information in Bargaining: An Experimental Study," Econometrica, Econometric Society, vol. 50(5), pages 1123-42, September.
  15. Roth, Alvin E. & Malouf, Michael W. K. & Murnighan, J. Keith, 1981. "Sociological versus strategic factors in bargaining," Journal of Economic Behavior & Organization, Elsevier, vol. 2(2), pages 153-177, June.
  16. Kaushik Basu, 2003. "The Economics and Law of Sexual Harassment in the Workplace," Journal of Economic Perspectives, American Economic Association, vol. 17(3), pages 141-157, Summer.
  17. Roth, Alvin E, 1984. "The Evolution of the Labor Market for Medical Interns and Residents: A Case Study in Game Theory," Journal of Political Economy, University of Chicago Press, vol. 92(6), pages 991-1016, December.
  18. Roth, Alvin E, 1991. "A Natural Experiment in the Organization of Entry-Level Labor Markets: Regional Markets for New Physicians and Surgeons in the United Kingdom," American Economic Review, American Economic Association, vol. 81(3), pages 415-40, June.
  19. Richard Schmalensee & Paul L. Joskow & A. Denny Ellerman & Juan Pablo Montero & Elizabeth M. Bailey, 1998. "An Interim Evaluation of Sulfur Dioxide Emissions Trading," Journal of Economic Perspectives, American Economic Association, vol. 12(3), pages 53-68, Summer.
  20. Gary S. Becker & Julio Jorge El�as, 2007. "Introducing Incentives in the Market for Live and Cadaveric Organ Donations," Journal of Economic Perspectives, American Economic Association, vol. 21(3), pages 3-24, Summer.
  21. Roth, Alvin & Ünver, M. Utku & Sönmez, Tayfun, 2004. "Kidney Exchange," Scholarly Articles 2580565, Harvard University Department of Economics.
  22. Roth, Alvin & Ünver, M. Utku & Sönmez, Tayfun, 2005. "A Kidney Exchange Clearinghouse in New England," Scholarly Articles 2562810, Harvard University Department of Economics.
  23. Posner, Richard A. & Avery, Christopher & Jolls, Christine & Roth, Alvin, 2001. "The Market for Federal Judicial Law Clerks," Scholarly Articles 2623748, Harvard University Department of Economics.
  24. Joseph Persky, 2007. "Retrospectives: From Usury to Interest," Journal of Economic Perspectives, American Economic Association, vol. 21(1), pages 227-236, Winter.
  25. Roth, Alvin E & Xing, Xiaolin, 1994. "Jumping the Gun: Imperfections and Institutions Related to the Timing of Market Transactions," American Economic Review, American Economic Association, vol. 84(4), pages 992-1044, September.
  26. Kuran, T., 1995. "Islamic Economics and the Islamic Subeconomy," Papers 9505, Southern California - Department of Economics.
  27. Roth, Alvin E & Xing, Xiaolin, 1997. "Turnaround Time and Bottlenecks in Market Clearing: Decentralized Matching in the Market for Clinical Psychologists," Journal of Political Economy, University of Chicago Press, vol. 105(2), pages 284-329, April.
  28. Atila Abdulkadiroglu & Parag A. Pathak & Alvin E. Roth, 2009. "Strategy-proofness versus Efficiency in Matching with Indifferences: Redesigning the New York City High School Match," NBER Working Papers 14864, National Bureau of Economic Research, Inc.
  29. Leonard Thomas C., 2004. "The Price is Wrong: Causes and Consequences of Ethical Restraint of Trade," Journal des Economistes et des Etudes Humaines, De Gruyter, vol. 14(2), pages 1-20, December.
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Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Blogs review: Markets without a price
    by ? in Bruegel blog on 2012-10-19 09:51:55
  2. Resources for Organ Donation
    by Liam Delaney in Economics, Psychology and Policy on 2011-05-05 23:46:00
  3. Boobonomics
    by Economic Logician in Economic Logic on 2007-12-28 21:48:00
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