A classic that seemingly will have to be reargued til the end of time. Other allocation methods are not clearly more egalitarian and are less efficient (depends on the correlation matrix of WTP, need, time budget, etc., plus one’s own judgment of fairness, but money prices come out looking great a lot of the time). In some cases, even prices don’t perform great (addressed in some comments on this post), but they’re better than the alternatives.
A classic that seemingly will have to be reargued til the end of time. Other allocation methods are not clearly more egalitarian and are less efficient (depends on the correlation matrix of WTP, need, time budget, etc., plus one’s own judgment of fairness, but money prices come out looking great a lot of the time). In some cases, even prices don’t perform great (addressed in some comments on this post), but they’re better than the alternatives.
For more reading: https://www.lesswrong.com/posts/gNodQGNoPDjztasbh/lies-damn-lies-and-fabricated-options?commentId=nG2X7x3n55cb3p7yB