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58 Geo. Wash. L. Rev. 1 (1989-1990)
Increasing the Supply of Transplant Organs: The Virtues of a Futures Market

handle is hein.journals/gwlr58 and id is 9 raw text is: Increasing the Supply of Transplant
Organs: The Virtues of
a Futures Market
Lloyd R. Cohen*
There is no mere scarcity of transplant organs, but a severe and
tragic shortage. Because price is not used 1) to bring more organs
to the market, and 2) to ration those organs among the potential
recipients, the quantity demanded at a zero price far exceeds the
quantity supplied. The central focus of this Article is a call to create
a market in transplantable organs and to use price for the first, if not
for the second, of these purposes.'
* John M. Olin Research Fellow in Law and Economics, University of Chicago Law
School; Associate Professor, California Western School of Law (on leave). B.A. 1968,
Harpur College; Ph.D. 1976, State University of New York at Binghamton; J.D. 1983,
Emory University.
1. I am not the first to suggest that the market may be a useful tool for increasing
the supply of transplantable organs to the market. See, e.g, Andrews, My Body, My Prop-
ery, HASTINGS CENTER REP., Oct. 1986, at 28; Brams, Transplantable Human Organs:
Should Their Sale Be Authorized by State Statutes?, 3 Am. J.L. & MED. 183 (1977); Buc &
Bernstein, Buying and Selling Human Organs is Worth a Harder Look, HEALTH SCAN, Oct.
1984, at 3; Hansmann, The Economics and Ethics of Markets for Human Organs, 14J. HEALTH
POL. POL'Y & L. 57 (1989); Mavrodes, The Morality of Selling Human Organs, in 38 ETHICS,
HUMANISM & MED. 133 (M. Basson ed. 1980); Perry, Human Organs and the Open Market,
91 ETHICS 63 (1980); Rottenberg, The Production and Exchange of Used Body Parts, in 2
TOWARD LIBERTY 322 (1971); Schwindt & Vining, Proposal for a Future Delivery Market for
Transplant Organs, 11 J. HEALTH POL. POL'Y & L. 483 (1986); Comment, Retailing Human
Organs Under the U'niformi Comnnercial Code, 16J. MARSHALL L. REV. 393 (1983); Note, The
Sale of Human Body Parts, 72 MICH. L. REV. 1182 (1974); Note, Regulating the Sale of Human
Organs, 71 VA. L. REV. 1015 (1985).
November 1989 Vol. 58 No. 1

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