Behavioral Efficiency I : Definition, Methodology and Demonstration

Harstad, Ronald M.

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論文情報

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 http://www.iser.osaka-u.ac.jp/library/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
カテゴリ	Institute of Social and Economic Research Discussion Papers

資源タイプ	テクニカルレポート
ローカル資源タイプ	ディスカッション／ワーキング・ペーパー
DCMI資源タイプ	text
DCTERMS.bibliographicCitation	Institute of Social and Economic Research Discussion Papers.818
DC.title	Behavioral Efficiency I : Definition, Methodology and Demonstration
DC.creator	Harstad, Ronald M.
DC.publisher	The Institute of Social and Economic Research, Osaka University
DC.language' scheme='DCTERMS.RFC1766	英語
DC.type' scheme='DCTERMS.DCMIType	text
DCTERMS.issued' scheme='DCTERMS.W3CDTF	2011-10
DC.relation' scheme='DCTERMS.URI	http://www.iser.osaka-u.ac.jp/library/dp/2011/DP0818.pdf
DC.subject	behavioral efficiency
	field experiment
	allocative efficiency
	revelation of valuations
	aftermarkets
DCTERMS.abstract	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.
citation_title	Behavioral Efficiency I : Definition, Methodology and Demonstration
citation_author	Harstad, Ronald M.
citation_publisher	The Institute of Social and Economic Research, Osaka University
citation_language	英語
citation_date	2011-10
citation_journal_title	Institute of Social and Economic Research Discussion Papers
citation_volume	818
citation_public_url	https://hdl.handle.net/11094/13726
citation_abstract_html_url	http://www.iser.osaka-u.ac.jp/library/dp/2011/DP0818.pdf

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