Perhaps I’m missing something. Looking at the problem and the properties listed aren’t the visas just normal economic goods? In that case maybe a better question to ask first is “Where is the market failure.” that prevents the market exchanges from achieving the claimed market results of maximizing total welfare?
I would think the idea, without some failure identified, would be to walk down the demand curve, letting the highest bidder buy as many visas as it wants so that seems like a pretty standard auction process.
I do suspect there is an interaction here between the specific recipient of a visa and the sponsor that would be bidding for have a visa allowing the import of the employee/human capital. I suspect that might be a relatively small distortion point but perhaps should be considered.
Perhaps I’m missing something. Looking at the problem and the properties listed aren’t the visas just normal economic goods? In that case maybe a better question to ask first is “Where is the market failure.” that prevents the market exchanges from achieving the claimed market results of maximizing total welfare?
I would think the idea, without some failure identified, would be to walk down the demand curve, letting the highest bidder buy as many visas as it wants so that seems like a pretty standard auction process.
I do suspect there is an interaction here between the specific recipient of a visa and the sponsor that would be bidding for have a visa allowing the import of the employee/human capital. I suspect that might be a relatively small distortion point but perhaps should be considered.