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Applied and bridge studies study record
Monographs

The Systems We Forgot to Price

STATUS · Manuscript in progressSSRN · Not yet posted
Open teaching deckSSRN — not yet postedPublication record
MECHANISM
Identify the incentive structure and the condition that would falsify the claim.
RULE CHANGE
Read the intervention only after the paper shows how the current payoff space fails to support system welfare.
READER USE
Use the summary to see where private gain creates system exposure, then check the study record.
Reading βW
βW means annual system-welfare loss divided by annual industry revenue Π. Revenue is the denominator, never profit, earnings, or net income; ΔW and Π must use the same domain, same time period, and same activity boundary. See the βW methodology manual.
Contribution — what this adds to the conversation
Provides a unified theoretical and empirical framework for welfare cost accounting across market failures. Combines theorem, measurement instrument, and institutional design.
WHAT'S NEW · Original structural argument that bilateral pricing structurally excludes system welfare, formalized as MST. Eight-outcome taxonomy, βW metric, and Decision Accounting framework are novel contributions.

This book argues that bilateral prices structurally exclude system welfare, leading to a Hollow Win where both transacting parties gain while the system degrades. It introduces the System Asset Pricing Model (SAPM) to measure this omission via the welfare beta (βW), and the Decision Accounting framework to record system welfare impact. Across 58 ranked revenue-ratio domains, the aggregate welfare loss is estimated at $72 trillion per year—the Reform Dividend.