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2025-09-08 15:09 本頁(yè)面
【正文】 se? – Buyer takes the good by force: conscription, taxation in kind – Seller decides, or it is part of the regulation Assigning the Right to Use ? Based on historical transactions – Rent control, minimum wage – Possible neutrality! 12/24/14: A security van in Hong Kong spilled bundles of banknotes … paralyzing traffic and igniting a scramble by passersby to collect the money. Assigning the Right to Use ? Based on historical transactions – Rent control, minimum wage – Possible neutrality! ? First e, first served ? Lottery ? **Willingness to accept a different good All probably have some kind of DWL, but otherwise are associated with different behaviors First e, first served: Queues 101 ? Longside traders pete for priority. The petition itself uses resources without creating value for traders on the other side of the market – Esp., wait in line ? Price ceiling: – Buyers queue or join wait list – Buyer pays controlled price + cost of waiting – Seller receives only the controlled price – Eastern Europe, Soviet Union consumer products – Healthcare waiting time. . control of gas prices A Queue Allocating Goods to Buyers: The Waiting Tax (contradicts Krugman and Wells, and most other textbooks) 0 $1,400 1,200 1,000 800 600 Quantity of apartments (millions) Monthly rent (per apartment) D S Price ceiling Consumer surplus: unregulated Consumer surplus: regulated Redistribution to consumers Only highvalue buyers remain in the market. Resources used in waiting Cost of waiting goods not supplied Amount lost by society Queues 101 ? Quantity traded depends on the price regulation, and not on any of the characteristics of the buyers (., their ine) ? Quantity traded is less than petitive ? Consumers are typically worse off (the marginal consumer is always worse off) Rights Assignment 2: Lotteries ? Lucky search, historical accident, random draws ? Price floor – lottery determines which suppliers get to produce – “unemployed” (., “surplus suppliers”) are the lotterylosing suppliers – ubiquitous model in “modern” macro ? Price ceiling: – lottery determines which demanders get to consume – “shortage” A Lottery Allocating Goods to Buyers 0 $1,400 1,200 1,000 800 600 Quantity of apartments (millions) Monthly rent (per apartment) D S
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