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YoungEconomist
11-16-2007, 10:38 PM
This video is exactly 1 hour long, and I thought it was incredibly interesting. Not to sound cheesy, but when I see stuff like this, I realize that I have made the right choice by choosing to become an economist. Scroll down to the bottom of this webpage to watch the video:

Big Thinker Al Roth Engages Crowd in Frank Discussion on Market Design | Yahoo! Research (http://research.yahoo.com/node/1863)

YoungEconomist
11-18-2007, 06:46 PM
I don't know if people aren't responding because they didn't watch the video, or if they just figured there's no need to respond. If you did watch it, I'd like to hear your opinions.

polkaparty
11-18-2007, 07:32 PM
I don't have enough time to watch a 1 hour video now, so that's at least why I didn't respond.... Seems interesting though, Marginal Revolution had a post responding to a similar article Roth wrote in the NYT regarding organ sales.

One reason I didn't really want to watch it was the final paragraph of that summary. I don't find that method of poling people on repugnance persuasive at all. If his point is simply that the cost to creating an organ market is somewhat high because of people's repugnance then sure, but the benefits might be [are] higher. So repugnance isn't really a constraint on market design.

Anyway, I didn't watch the video or read his article so it's possible I am misinterpreting whatever he has said via that yahoo summary & the MR post.

YoungEconomist
11-18-2007, 07:39 PM
I don't have enough time to watch a 1 hour video now, so that's at least why I didn't respond.... Seems interesting though, Marginal Revolution had a post responding to a similar article Roth wrote in the NYT regarding organ sales.

One reason I didn't really want to watch it was the final paragraph of that summary. I don't find that method of poling people on repugnance persuasive at all. If his point is simply that the cost to creating an organ market is somewhat high because of people's repugnance then sure, but the benefits might be [are] higher. So repugnance isn't really a constraint on market design.

Anyway, I didn't watch the video or read his article so it's possible I am misinterpreting whatever he has said via that yahoo summary & the MR post.

Well, I am a libertarian, so I don't find repugnance persuasive either. But I think you'd really enjoy the video. I don't know a lot about Dr. Roth as I've only seen this video and read the article you discussed above. But the way I understand it, he tries to bring in market forces in situations where there is not a traditional market. For example, on this video he discusses the kidney thing he helped work on, as well as a sort of market for public schools in NYC and Boston. I think he is interesting, because he works within the reality of the situation and just tries to figure out a way in which we can get a market even though there are some unusual constraints. It doesn't seem like he finds the repugnance thing that persuasive either, but it seems like he is just taking it as given and trying to find a way to work around it.

sartre
11-19-2007, 06:52 AM
The lecture ended after 30 minutes...were you not watching the timer or looking at the clock?

Regardless, I thought it was very interesting and thank you for posting that (and exposing me to Yahoo Research, there's some pretty interesting stuff on that website).

It doesn't matter whether you find repugnance persuasive or not. Economics as science must figure out how to make markets work given the constraints of reality, and repugnance as it is discussed, is a constraint, whether it manifests itself through social norms or through legislation. If you want to talk about economics as ideology, then you're free to discuss whether repugnance ought to be a constraint on market design or not.

octavio
11-19-2007, 07:11 AM
It lasted an hour for me. I'm not sure what happened for you.

signal08
11-19-2007, 07:32 AM
the video was interesting. not mindblowing or utterly fascinating- but interesting nonetheless.

YoungEconomist
11-19-2007, 03:49 PM
The lecture ended after 30 minutes...were you not watching the timer or looking at the clock?

No, it was an hour. If you only watched 30 minutes you might want to finish watching it.



It doesn't matter whether you find repugnance persuasive or not. Economics as science must figure out how to make markets work given the constraints of reality, and repugnance as it is discussed, is a constraint, whether it manifests itself through social norms or through legislation.

I agree. I also think economists can possibly show people the cost associated with repugnance. For example, people may be willing to accept a market for kidneys if they thought it would work particularly well.