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Repugnance as a Constraint on Markets

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Roth_Repugnance.pdf (241.42 KB)

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2007

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10.1257/jep.21.3.37

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American Economic Association
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Roth, Alvin E. 2007. Repugnance as a constraint on markets. Journal of Economic Perspectives 21(3): 37-58.

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This essay examines how repugnance sometimes constrains what transactions and markets we see. When my colleagues and I have helped design markets and allocation procedures, we have often found that distaste for certain kinds of transactions is a real constraint, every bit as real as the constraints imposed by technology or by the requirements of incentives and efficiency. I’ll first consider a range of examples, from slavery and indentured servitude (which once were not as repugnant as they now are) to lending money for interest (which used to be widely repugnant and is now not), and from bans on eating horse meat in California to bans on dwarf tossing in France. An example of special interest will be the widespread laws against the buying and selling of organs for transplantation. The historical record suggests that while repugnance can change over time, it can persist for a very long time, although changes in institutions that reflect repugnance can occur relatively quickly when the underlying repugnance changes.

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http://nrs.harvard.edu/urn-3:HUL.InstRepos:2624677

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Repugnance as a Constraint on Markets… : DASH Story 2014-04-17
I have recently discovered that a genetic per-disposition in my wife's family towards kidney disease, previously unexpressed in her generation, has suddenly reared its' head. This has implications for our children, both of whom appear healthy and happy, but in whom may lurk a ticking health time bomb. In response to this discovery I have started a search of literature on the topic of organ donation, and organ markets, so I understand the implications of the organ transplant system in my own country (New Zealand) for my children should they need transplants later in life. Being able to access informed peer reviewed literature on the topic easily is a great boon - especially when I am surrounded by so much information of dubious provenance. Keep it up Harvard - this doesn't decrease your value, it bolsters your brand. Thank you.
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Repugnance as a Constraint on Markets… : DASH Story 2015-05-29
I teach "Ethics in the Workplace," with frequent allusion to concepts in economics, both micro and macro. When the "Repugnance as a Constraint on Markets" article appeared, I was lucky enough to receive a PDF copy which I quoted on occasion in my classes (fair use doctrine). So I am delighted to see you have made it more widely available. In this age of Michael Sandel's Justice MOOC, EdX, MITX, and the Freakonomics Youtube channel, it has become a joy to direct students to works like these of such veritably high calibre! Thank you as well for DASH!