More Evidence That Warren Buffett Sees Value In Electricity

Berkshire Hathaway has provided financing for Williams. His credibility, integrity, and vision are things that the electricity industry needs right now, as well as his capital. He also knows a bargain when he sees it. Here is a more thorough article on the deal from TheStreet.com. … More More Evidence That Warren Buffett Sees Value In Electricity

How Auctions Work, And Why Design Matters

Hal Varian, writing today in the New York Times’ Economic Scene, describes auctions, how they work, and how design can influence whether or not participants can collude. This article summarizes a recent journal article by Paul Klemperer, an economist at Nuffield College, Oxford, and one of the most pre-eminent auction theorists. Mr. Klemperer argues that … More How Auctions Work, And Why Design MattersMore How Auctions Work, And Why Design Matters

FERC’s Standard Market Design Proposal

The press release on it is 20 pages, the design proposal runs to 800 pages. The comment period extends to 21 October, so expect to see some comments here as I process and analyze this proposal. … More FERC’s Standard Market Design Proposal

Sonia Arrison On Hollywood Hacking

Sonia’s Tech Central Station article on the proposed bill is very good. She hits the nail on the head with Many of Hollywood’s Internet pirates are also paying customers in real space, putting Hollywood in the strange position of wanting to attack its own customers. Intellectual property is, of course, important both in principle and … More Sonia Arrison On Hollywood HackingMore Sonia Arrison On Hollywood Hacking

Transaction Costs And Fraud Legislation

This Dow Jones newswire article indicates that one consequence of more stringent SEC regulatory enforcement to reduce corporate accounting fraud will result in increased litigation and decreased settlement out of court. This is one of the most striking costs of increased regulation — the litigation and slow-as-molasses process of resolution. Lawyers are probably raisin’ the … More Transaction Costs And Fraud LegislationMore Transaction Costs And Fraud Legislation