A repugnant market is a term used to describe an area of commerce that is considered by society to be outside of the range of market transactions and that bringing this area into the realm of a market would be inherently immoral or uncaring. For example, many people consider a market in human organs to be a repugnant market or the ability to bet on terrorist acts in prediction market to be repugnant. Meanwhile, many people consider lack of such markets to be immoral and uncaring because trade bans (e.g. in organ transplants and terrorism information ) create avoidable human suffering.

Examples

The repugnance of markets varies according to time and culture. Slavery is a market currently considered repugnant while for much of recorded history it was considered very lucrative and acceptable. Examples of markets considered repugnant at one time or place include:

• Adoption and surrogacy (legal in India and most states in the U.S., but banned in the remaining, Australia, France and Japan)
• Advertising for tobacco and alcohol
• Birth control
• Cadavers
• Citizenship and/or immigration (Investor visas such as the U.S. E-2 visa are exceptions. Several notable economists have proposed selling citizenship )
• Currency speculation
• Egg donation for research purposes
• Employment agencies (recruiters, headhunters)
• Gambling
• Illegal drug trade
• Life insurance
• Meat of horses or dogs in California
• Metered parking
• Military mercenaries
• Organ trade and organ donation from a live donor (Turkey and the Philippines are notable exceptions}
• Payola
• Pornography (still repugnant in some countries/cultures)
• Certain prediction markets (e.g. 'terrorism futures market')
• Product placement in some European countries
• Prohibition of alcoholic beverages
• Prostitution
• Real estate in Cuba
• Selling short
• Slavery or indentured servitude
• Ticket touting in sports events and concerts
• Usury (historically in Christian countries)
• Vote buying

References

External links

• Transcript of BBC broadcast on repugnant markets
• Google video on Market Failure and Market Design