Behavioral Efficiency I : Definition, Methodology and Demonstration

Harstad, Ronald M.

Institute of Social and Economic Research Discussion Papers, 2011, 818

アクセス数:159件（2025-05-21 08:38 集計）

固定URL: https://hdl.handle.net/11094/13726

論文情報

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タイトル
Behavioral Efficiency I : Definition, Methodology and Demonstration
著者
著者名
Harstad, Ronald M.
キーワード等
behavioral efficiency
field experiment
allocative efficiency
revelation of valuations
aftermarkets
抄録
Economic experiments conducted in laboratories employing an induced-valuesmethodology can report on allocative efficiencies observed. This methodology is limited byrequiring the experimenter to know subjects' motivations, an impossibility in fieldexperiments. Allocative efficiency implies a hypothetical costless aftermarket would beinactive. An outcome of an allocation mechanism is herein defined to be behaviorally efficient ifan appropriate aftermarket is actually appended to the allocation mechanism and at most anegligible aggregate size of mutually beneficial gains is observed on the aftermarket.Methodological requirements for observation of behavioral efficiency or inefficiency are putforward. A simple field demonstration indicates when an increase in public good output cancover marginal cost in a mutually beneficial decentralization, without knowing valuations.Several empirical issues that arise with the methodology are noted.
出版者
The Institute of Social and Economic Research, Osaka University
収録物名
Institute of Social and Economic Research Discussion Papers
巻(号)
818
刊行年月
2011-10
言語
英語
ハンドルURL
https://hdl.handle.net/11094/13726
関連情報 (references)
URI
https://www.iser.osaka-u.ac.jp/static/resources/docs/dp/2011/DP0818.pdf
アクセス権
metadata only access
カテゴリ
ディスカッション／ワーキング・ペーパー DP/WP
Institute of Social and Economic Research Discussion Papers