POSTREL ON MICROSOFT, JOSKOW AND TRANSACTION COSTS

Leave it to my eloquent former colleague Virginia Postrel to pick up on an extremely good analysis of the economics of antitrust law by Paul Joskow. I read this article on the plane to San Francisco last Friday, and it was one of the most compelling arguments I’ve seen yet for why actions, institutions and … More POSTREL ON MICROSOFT, JOSKOW AND TRANSACTION COSTSMore POSTREL ON MICROSOFT, JOSKOW AND TRANSACTION COSTS

HOW COOL IS THIS?

Following up on an article in Monday’s Wall Street Journal (subscription required), I’ve been reading up on Irbis Enterprises. Irbis, which means “snow leopard” in Mongolian, is an organization attempting to align the incentives of nomadic herders in Mongolia with not killing snow leopards to sell their coats. As the WSJ article says, Irbis … … More HOW COOL IS THIS?More HOW COOL IS THIS?

OIL MARKET ANALYSES

Two interesting stories today illustrate some very important points about how world oil markets are evolving. This Bloomberg News story describes how Russia and Norway are changing the dynamics of OPEC’s ability to restrict output to raise prices: Russia and Norway plan to end six months of output cuts and cooperation with the Organization of … More OIL MARKET ANALYSESMore OIL MARKET ANALYSES