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There a many ways to ration scarce resources. Each method serves different goals so different methods are appropriate in different contexts. Here's an incomple
by shkkmo 5y ago
There a many ways to ration scarce resources. Each method serves different goals so different methods are appropriate in different contexts.
Here's an incomplete list of common tools:
0) fitness judgement (e.g. grants, scholarships etc)
1) First come first serve (e.g. most product launches)
2) lottery (e.g. grand canyon rafting permits)
3) auction (e.g. broadband spectrum)
4) third party speculators (e.g. scalping)
You can often use several of these methods simulatenously, but if your goals include prioritizing egalitarian access to the scarce resource then #4 can significantly interfere with that goal. There's a reason you aren't allowed to resell grand canyon rafting permits.
- NextHendrix 5y ago>grand canyon rafting permits Interesting, I had no idea. More info https://www.nps.gov/grca/planyourvisit/weightedlottery.htm https://www.nps.gov/grca/planyourvisit/weightedlottery.htm
- shkkmo 5y agoIt's actually extremely relevant as the weighted lottery system for non-commercial permits was used to replace the prior system which was a first-come first-served waitlist. It's a great example of evaluating different methods of rationing access to a limited resource when the primary goal is not maximizing revenue or efficiently distributing resources for maximum economic production.