Influencing waiting lists

James Schummer

Journal of Economic Theory, 2021, vol. 195, issue C

Abstract: Stochastically arriving objects (e.g. transplant organs, public housing units) often are allocated via waiting lists exhibiting deferral rights: agents may decline offers, keeping their position in line. We consider the welfare implications of bestowing or constraining such rights, concluding that their desirability depends—in opposite ways—on agents' risk-aversion and impatience. Under risk-aversion, uninfluenced deferral rights typically enhance welfare. Under discounting some restrictions on deferral rights can benefit all agents joining the list. In a stylized “organ spoilage” model our results demonstrate that policy evaluations should not be based solely on throughput metrics (e.g. organ utilization rates) that ignore such preference characteristics.

Keywords: Waiting lists; Queueing; Dynamic assignment (search for similar items in EconPapers)
JEL-codes: C78 D47 (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jetheo:v:195:y:2021:i:c:s0022053121000806

DOI: 10.1016/j.jet.2021.105263

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