Efficiency and the Futures Market in Organs

TY - JOUR

T1 - Efficiency and the Futures Market in Organs

AU - Albertsen, Andreas

PY - 2023/9

Y1 - 2023/9

N2 - There has been considerable debate over regulated organ markets. Especially current markets, where people sell one of their kidneys while still alive, have received increased attention. Futures markets remain an interesting and under-discussed alternative specification of a market-based solution to the organ shortage. Futures markets pertain to the sale of the right to procure people’s organs after they die. There is a wide range of possible specifications of the futures market. There are, however, some major unaddressed efficiency concerns. This article presents this class of concerns and discusses the implication for organ futures markets. It identifies a number of inefficiency sources pertaining to crowding out, bad organs, costs and missed opportunities, family refusals, moral hazard and strength of the provided incentive. However, a complete assessment of futures market requires better knowledge regarding the potential reaction from donors, families and health professionals.

AB - There has been considerable debate over regulated organ markets. Especially current markets, where people sell one of their kidneys while still alive, have received increased attention. Futures markets remain an interesting and under-discussed alternative specification of a market-based solution to the organ shortage. Futures markets pertain to the sale of the right to procure people’s organs after they die. There is a wide range of possible specifications of the futures market. There are, however, some major unaddressed efficiency concerns. This article presents this class of concerns and discusses the implication for organ futures markets. It identifies a number of inefficiency sources pertaining to crowding out, bad organs, costs and missed opportunities, family refusals, moral hazard and strength of the provided incentive. However, a complete assessment of futures market requires better knowledge regarding the potential reaction from donors, families and health professionals.

KW - controversial markets

KW - futures markets

KW - organ donation

KW - organ markets

KW - Organ donation

KW - controversial markets

KW - futures markets

KW - organ markets

KW - Moral limits of markets

KW - Controversial markets

KW - Organ markets

KW - Organ futures markets

UR - https://www.scopus.com/pages/publications/85170035900

U2 - 10.1007/s40592-023-00180-0

DO - 10.1007/s40592-023-00180-0

M3 - Journal article

C2 - 37688713

SN - 1321-2753

VL - 41

SP - 66

EP - 81

JO - Monash Bioethics Review

JF - Monash Bioethics Review

IS - Suppl 1

ER -