Managing congestion: economics of price and lottery rationing.
The writer demonstrates how efficient capacity differs between two competing resource allocation mechanisms, one of which is efficient—price—and one of which is fair—lottery. The welfare theoretic implications of adopting lottery allocation as opposed to price allocation are described from the pers...
| Publicado en: | Journal of Environmental Management Vol. 45; pp. 347 - 365 |
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| Formato: | Artículo |
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Academic Press Inc.
December 1995
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| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=512713217&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 512713217 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 03014797 EMJ jtl: Journal of Environmental Management issn: 03014797 maglogo: N pubinfo: dt: December 1995 vid: 45 pid: 735 pub: Academic Press Inc. artinfo: ui: 512713217 10.1006/jema.1995.0081 ppf: 347 ppct: 18 formats: tig: atl: Managing congestion: economics of price and lottery rationing. aug: au: Kerr, G. N. su: Resource allocation -- Mathematical models Welfare economics Mathematical models of consumption Rationing Prices -- Mathematical models sug: subj: Resource allocation -- Mathematical models Welfare economics Mathematical models of consumption Rationing Prices -- Mathematical models ab: The writer demonstrates how efficient capacity differs between two competing resource allocation mechanisms, one of which is efficient—price—and one of which is fair—lottery. The welfare theoretic implications of adopting lottery allocation as opposed to price allocation are described from the perspectives of economic efficiency and the benefits obtained by resource users and suppliers. It is discovered that risk-neutral resource users will always favor lottery allocation over price allocation as it is never in risk-neutral resource users' interests to have price allocation imposed. Findings are analyzed using a linear constant crowding demand function, in which case it is discovered that the efficient capacity for lottery rationing exceeds the efficient capacity where price is to be used to allocate a congestible resource. It is concluded that objectives may be better met by combined use of allocation mechanisms, the implications of which are examined using the linear demand model. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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