Allocation of goods through non-price mechanisms: evidence on distribution by willingness to wait
This paper discusses a model of market clearing when prices are rigid. The estimated model is one in which the waiting time necessary to obtain the scarce goods brings the excess demand in line with current supply in a manner of a flexible price. The mechanism of such a market has been discussed by...
| Autor principal: | |
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| Formato: | Journal Article |
| Lenguaje: | Inglés |
| Publicado: |
Elsevier
1987
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| Materias: | |
| Acceso en línea: | https://hdl.handle.net/10568/170603 |
| _version_ | 1855529788421177344 |
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| author | Alderman, Harold |
| author_browse | Alderman, Harold |
| author_facet | Alderman, Harold |
| author_sort | Alderman, Harold |
| collection | Repository of Agricultural Research Outputs (CGSpace) |
| description | This paper discusses a model of market clearing when prices are rigid. The estimated model is one in which the waiting time necessary to obtain the scarce goods brings the excess demand in line with current supply in a manner of a flexible price. The mechanism of such a market has been discussed by Barzel and by Nichols, Smolensky and Tideman, but little empirical evidence has been reported. Estimation of consumer demand in such a market is presented here. Heckman's approach to truncated sample estimation has been employed. The approach allows modelling of time costs as a two-part tariff. The results confirm that consumer's response to waiting time is measurable and in the same order of magnitude as expected from response to changes in prices. The study also indicates that rationing by willingness to wait does not necessarily distribute goods to the poor. |
| format | Journal Article |
| id | CGSpace170603 |
| institution | CGIAR Consortium |
| language | Inglés |
| publishDate | 1987 |
| publishDateRange | 1987 |
| publishDateSort | 1987 |
| publisher | Elsevier |
| publisherStr | Elsevier |
| record_format | dspace |
| spelling | CGSpace1706032025-01-29T12:57:08Z Allocation of goods through non-price mechanisms: evidence on distribution by willingness to wait Alderman, Harold consumption mathematical models markets This paper discusses a model of market clearing when prices are rigid. The estimated model is one in which the waiting time necessary to obtain the scarce goods brings the excess demand in line with current supply in a manner of a flexible price. The mechanism of such a market has been discussed by Barzel and by Nichols, Smolensky and Tideman, but little empirical evidence has been reported. Estimation of consumer demand in such a market is presented here. Heckman's approach to truncated sample estimation has been employed. The approach allows modelling of time costs as a two-part tariff. The results confirm that consumer's response to waiting time is measurable and in the same order of magnitude as expected from response to changes in prices. The study also indicates that rationing by willingness to wait does not necessarily distribute goods to the poor. 1987-02 2025-01-29T12:57:08Z 2025-01-29T12:57:08Z Journal Article https://hdl.handle.net/10568/170603 en Limited Access Elsevier Alderman, Harold. 1987. Allocation of goods through non-price mechanisms: evidence on distribution by willingness to wait. Journal of Development Economics 25(1): 105-124. https://doi.org/10.1016/0304-3878(87)90077-0 |
| spellingShingle | consumption mathematical models markets Alderman, Harold Allocation of goods through non-price mechanisms: evidence on distribution by willingness to wait |
| title | Allocation of goods through non-price mechanisms: evidence on distribution by willingness to wait |
| title_full | Allocation of goods through non-price mechanisms: evidence on distribution by willingness to wait |
| title_fullStr | Allocation of goods through non-price mechanisms: evidence on distribution by willingness to wait |
| title_full_unstemmed | Allocation of goods through non-price mechanisms: evidence on distribution by willingness to wait |
| title_short | Allocation of goods through non-price mechanisms: evidence on distribution by willingness to wait |
| title_sort | allocation of goods through non price mechanisms evidence on distribution by willingness to wait |
| topic | consumption mathematical models markets |
| url | https://hdl.handle.net/10568/170603 |
| work_keys_str_mv | AT aldermanharold allocationofgoodsthroughnonpricemechanismsevidenceondistributionbywillingnesstowait |