Behavioral Efficiency I : Definition, Methodology and Demonstration

Material type: 文書・図像類

Author: Harstad, Ronald M.

Publisher: The Institute of Social and Economic Research, Osaka University

Publication date: 2011-10

Material Format: Paper

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Note (General)：: Economic experiments conducted in laboratories employing an induced-valuesmethodology can report on allocative efficiencies observed. This methodology...

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Paper

Material Type: 文書・図像類
Title: Behavioral Efficiency I : Definition, Methodology and Demonstration
Author/Editor: Harstad, Ronald M.
Author Heading: Harstad, Ronald M.
Publication, Distribution, etc.: The Institute of Social and Economic Research, Osaka University
Publication Date: 2011-10
Publication Date (W3CDTF): 2011-10
Periodical title: Institute of Social and Economic Research Discussion Papers
No. or year of volume/issue: 818
Volume: 818
Text Language Code: eng
Subject Heading: behavioral efficiency
field experiment
allocative efficiency
revelation of valuations
aftermarkets
Target Audience: 一般
Note (General): 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.
References (URI): http://www.iser.osaka-u.ac.jp/library/dp/2011/DP0818.pdf
URI
http://www.iser.osaka-u.ac.jp/library/dp/2011/DP0818.pdf
Data Provider (Database): 国立情報学研究所 : 学術機関リポジトリデータベース（IRDB）（機関リポジトリ）
https://irdb.nii.ac.jp
Original Data Provider (Database): 大阪大学 : 大阪大学学術情報庫　桜華