Big Data

The Practical Power Of Game Theory

Date Added: Jul 2010
Format: HTML

Markets also face the issue of "Repugnant" transactions, such as the use of money in kidney transplants, Roth said. He pointed out that some transactions are not repugnant until money enters the equation. That's because money objectifies what is being bought or sold, creates some coercion, and/or leads to a slippery slope. When money is used in a nontraditional market - such as a school or hospital - it assumes a function different from when it is used in a typical commodity market, Roth said. For example, universities don't raise tuition until they have attracted the desired number of prospective students.