IDEAS home Printed from https://ideas.repec.org/a/zbw/econso/200967.html
   My bibliography  Save this article

Notes on market design and economic sociology

Author

Listed:
  • Ossandón, José

Abstract

Consider the following two examples: Inspired by Milton Friedman's proposal that demand-side subsidies and consumer choice would enhance school competition, which in turn should improve learning and the efficiency of the system as a whole, policymakers radically reformed school education in Chile in the early 1980s. After several regulatory modifications, education in Chile is still heavily market- based. However, since the massive student revolt of 2011, the area has been hugely controversial. One of the main issues has been that, in the current system, not only are parents trying to choose the best schools for their children, schools, in order to maintain or improve their positions in the national test that ranks them, are actively excluding students with learning difficulties or families that seem to them to be more complicated. In order to find a way out of the impasse, policymakers are currently implementing a particular technical solution, namely centralized clearing-house mechanisms, such as the one implemented in Boston and developed by economists such as Alvin E. Roth. The work of market designers, Roth explains, "is to know the workings and requirements of particular markets well enough to fix them when they're broken or to build markets from scratch when they're missing" (Roth 2007: 1). Policymakers in Chile intend to re-design the existing school education market in order to reduce discrimination...

Suggested Citation

  • Ossandón, José, 2019. "Notes on market design and economic sociology," economic sociology. perspectives and conversations, Max Planck Institute for the Study of Societies, vol. 20(2), pages 31-39.
    • Handle: RePEc:zbw:econso:200967
    as

    Download full text from publisher

    File URL: https://www.econstor.eu/bitstream/10419/200967/1/Econsoc-NL-20-2-05-Ossandon.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Mirowski, Philip, 2007. "Markets come to bits: Evolution, computation and markomata in economic science," Journal of Economic Behavior & Organization, Elsevier, vol. 63(2), pages 209-242, June.
    2. Williamson, Oliver E, 1973. "Markets and Hierarchies: Some Elementary Considerations," American Economic Review, American Economic Association, vol. 63(2), pages 316-325, May.
    3. Herbert A. Simon, 1996. "The Sciences of the Artificial, 3rd Edition," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262691914, December.
    4. Alvin E. Roth, 2002. "The Economist as Engineer: Game Theory, Experimentation, and Computation as Tools for Design Economics," Econometrica, Econometric Society, vol. 70(4), pages 1341-1378, July.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Richard Holt & J. Barkley Rosser & David Colander, 2011. "The Complexity Era in Economics," Review of Political Economy, Taylor & Francis Journals, vol. 23(3), pages 357-369.
    2. Moreno-Casas, Vicente & Espinosa, Victor I. & Wang, William Hongsong, 2022. "The political economy of complexity: The case of cyber-communism," Journal of Economic Behavior & Organization, Elsevier, vol. 204(C), pages 566-580.
    3. Steve J. Bickley & Ho Fai Chan & Benno Torgler, 2022. "Artificial intelligence in the field of economics," Scientometrics, Springer;Akadémiai Kiadó, vol. 127(4), pages 2055-2084, April.
    4. Marco LiCalzi & Lucia Milone & Paolo Pellizzari, 2011. "Allocative Efficiency and Traders’ Protection Under Zero Intelligence Behavior," Dynamic Modeling and Econometrics in Economics and Finance, in: Herbert Dawid & Willi Semmler (ed.), Computational Methods in Economic Dynamics, pages 5-28, Springer.
    5. Tesfatsion, Leigh, 2006. "Agent-Based Computational Modeling And Macroeconomics," Staff General Research Papers Archive 12402, Iowa State University, Department of Economics.
    6. Peter Coles & John Cawley & Phillip B. Levine & Muriel Niederle & Alvin E. Roth & John J. Siegfried, 2010. "The Job Market for New Economists: A Market Design Perspective," Journal of Economic Perspectives, American Economic Association, vol. 24(4), pages 187-206, Fall.
    7. Alan Hevner & Isabelle Comyn-Wattiau & Jacky Akoka & Nicolas Prat, 2018. "A pragmatic approach for identifying and managing design science research goals and evaluation criteria," Post-Print hal-02283783, HAL.
    8. Alvin E. Roth & Tayfun Sönmez & M. Utku Ünver, 2004. "Kidney Exchange," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 119(2), pages 457-488.
    9. Muriel Niederle & Alvin E. Roth, 2009. "The Effects of a Centralized Clearinghouse on Job Placement, Wages, and Hiring Practices," NBER Chapters, in: Studies of Labor Market Intermediation, pages 235-271, National Bureau of Economic Research, Inc.
    10. Erlanson, Albin & Szwagrzak, Karol, 2013. "Strategy-Proof Package Assignment," Working Papers 2013:43, Lund University, Department of Economics.
    11. Tobias Knabke & Sebastian Olbrich, 2018. "Building novel capabilities to enable business intelligence agility: results from a quantitative study," Information Systems and e-Business Management, Springer, vol. 16(3), pages 493-546, August.
    12. Scott Duke Kominers & Alexander Teytelboym & Vincent P Crawford, 2017. "An invitation to market design," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 33(4), pages 541-571.
    13. Johannes Abeler & Felix Marklein, 2017. "Fungibility, Labels, and Consumption," Journal of the European Economic Association, European Economic Association, vol. 15(1), pages 99-127.
    14. Sunder Shyam, 2011. "Imagined Worlds of Accounting," Accounting, Economics, and Law: A Convivium, De Gruyter, vol. 1(1), pages 1-14, January.
    15. Marco LiCalzi, 2022. "Bipartite choices," Decisions in Economics and Finance, Springer;Associazione per la Matematica, vol. 45(2), pages 551-568, December.
    16. Kafigi Jeje, 2020. "Risk-Taking and Performance of Small and Medium-Sized Enterprises: Lessons from Tanzanian Bakeries," Journal of Economics and Behavioral Studies, AMH International, vol. 12(3), pages 1-22.
    17. Fiori Stefano, 2005. "The emergence of instructions : some open problems in Hayek's theory," CESMEP Working Papers 200504, University of Turin.
    18. McCown, R. L., 2002. "Changing systems for supporting farmers' decisions: problems, paradigms, and prospects," Agricultural Systems, Elsevier, vol. 74(1), pages 179-220, October.
    19. Chao Huang, 2021. "Stable matching: an integer programming approach," Papers 2103.03418, arXiv.org, revised Apr 2022.
    20. Jin P. Gerlach & Ronald T. Cenfetelli, 2022. "Overcoming the Single-IS Paradigm in Individual-Level IS Research," Information Systems Research, INFORMS, vol. 33(2), pages 476-488, June.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:zbw:econso:200967. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ZBW - Leibniz Information Centre for Economics (email available below). General contact details of provider: https://edirc.repec.org/data/mpigfde.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.