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Repugnant Transactions: A Case Study

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Introduction Repugnant transactions, from an economist point of view, are transactions within a market which would be considered immoral or even unethical by society if were permitted (Lagace, 2007). The word "repugnant" is used to describe the willingness of market participants to complete a transaction but the objection from a third party prevents it, hence making it illegal (Leider, Roth, 2010). For example, kidney sale is a repugnant transaction as in most countries it is classified as illegal. This is due to the fact that it is based on ethical values according to the time and the culture of a country (Ireland, 2008). According to Al Roth, economists are interested in learning more about repugnant transactions as they “serve as an important …show more content…

In this case, the number of kidney donors represents the supply and the number of patients who need to receive a kidney represents the demand. “The present shortage of kidneys is the result of the zero price that is placed on them” (Allen, 2005), also meaning that the good’s price and price ceiling is lower than the equilibrium quantity and price and its price elasticity is negative. If purchasing a kidney was easy and legal, the gap between the supply and the demand of a kidney would result in a relatively low sales' price. This would guide to an easier acquisition for rich individuals at first. With modern methods and medication, transplant operation is considered less dangerous than child’s birth and there is no need for an exact match donor. In other words, possible donors are more in number than the number of kidneys that is demanded. Possible donors (alive or cadavers) are often unaware of this as they are not properly informed and are unwilling to donate. They initially might consider going through an operation and a recuperation period to live after with one kidney, but they only believe that the higher risk factor is not worth the donation. Al Roth is rooting for kidney sale to radically allow rich individuals, who can afford the operation and medicine, to be served first (Roth, Ünver, and Sönmez,

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