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The acceptability of lotteries in allocation problems

Elias Bouacida and Renaud Foucart

No 301646245, Working Papers from Lancaster University Management School, Economics Department

Abstract: We report the results of two experiments on the social acceptability of random devices in allocation mechanisms. A majority of subjects do not opt for a lottery if they can rationalize an alternative mechanism as non-random. It is, however, possible to design a payoff-equivalent mechanism to the lottery that is more acceptable. Our results shed light on the real-world reliance on obscure criteria in allocation problems where lotteries seem to be simpler and more efficient.

Keywords: lotteries; mechanism design (search for similar items in EconPapers)
JEL-codes: D01 D78 D91 (search for similar items in EconPapers)
Date: 2020
New Economics Papers: this item is included in nep-des and nep-exp
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