What Have We Learned from Market Design?
讨论通过设计市场来修复市场失灵时学到的一些经验,包括市场需要具备厚度、克服拥堵、保障安全与简便,并举例医生劳动力市场、肾脏交换和学校选择等。
This essay discusses some things we have learned about markets, in the process \nof designing marketplaces to fix market failures. To work well, marketplaces have to \nprovide thickness, i.e. they need to attract a large enough proportion of the potential \nparticipants in the market; they have to overcome the congestion that thickness can bring, by making it possible to consider enough alternative transactions to arrive at good ones; and they need to make it safe and sufficiently simple to participate in the market, as opposed to transacting outside of the market, or having to engage in costly and risky strategic behavior. I'll draw on recent examples of market design ranging from labor markets for doctors and new economists, to kidney exchange, and school choice in New York City and Boston.