I recall when a big part of practical market design was explaining to skeptical listeners why they should listen to economists...
June 19, 2020
Improving Ventilator Rationing Through Collaboration With Experts on Resource Allocation
Parag A. Pathak, PhD1; Tayfun Sönmez, PhD2; M. Utku Ünver, PhD2
JAMA Netw Open. 2020;3(6):e2012838. doi:10.1001/jamanetworkopen.2020.12838
"In our study of ventilator rationing guidelines,2 we have not seen task forces include input from experts on market design, a field of economics that studies the allocation of scarce resources. In many settings, price plays a central role in allocation when demand exceeds supply; however, this instrument is often not available in public health emergencies with extreme scarcity. During the last 2 decades, substantial research activity and policy developments have taken place regarding allocation environments where price-based tools are either unavailable or considered repugnant. Two noteworthy examples are the organization of kidney exchanges in the US and the assignment of seats at public schools. Because research in market design incorporates ethical considerations and operationalizes these objectives with an allocation mechanism, scholars in this field can be valuable for transforming various trade-offs between ethical principles into specific allocation procedures."
June 19, 2020
Improving Ventilator Rationing Through Collaboration With Experts on Resource Allocation
Parag A. Pathak, PhD1; Tayfun Sönmez, PhD2; M. Utku Ünver, PhD2
JAMA Netw Open. 2020;3(6):e2012838. doi:10.1001/jamanetworkopen.2020.12838
"In our study of ventilator rationing guidelines,2 we have not seen task forces include input from experts on market design, a field of economics that studies the allocation of scarce resources. In many settings, price plays a central role in allocation when demand exceeds supply; however, this instrument is often not available in public health emergencies with extreme scarcity. During the last 2 decades, substantial research activity and policy developments have taken place regarding allocation environments where price-based tools are either unavailable or considered repugnant. Two noteworthy examples are the organization of kidney exchanges in the US and the assignment of seats at public schools. Because research in market design incorporates ethical considerations and operationalizes these objectives with an allocation mechanism, scholars in this field can be valuable for transforming various trade-offs between ethical principles into specific allocation procedures."
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