Prices Are Equalizers

Lynne Kiesling Don Boudreaux has a post on prices as the great equalizer that’s is very important. After looking at two of the different ways of rationing stuff (queuing and family connections), Don points out that One great advantage of rationing by market prices is that they reduce to a minimum the role of arbitrariness. … More Prices Are EqualizersMore Prices Are Equalizers

Now There’s A Good Lord Voldemort For You

Lynne Kiesling Six degrees of Harry Potter … I think for British actors it should be changed to two degrees, which is apparently sufficient … So last night the KP Spouse and I were trolling the tv after dinner/Cubs WIN in Montreal, and we caught the last hour and a half of The End of … More Now There’s A Good Lord Voldemort For YouMore Now There’s A Good Lord Voldemort For You

Kiesling/smith Commentary In San Diego Union Tribune

Lynne Kiesling On Friday Vernon Smith and I had commentary on the importance of customer choice in electric power markets in the San Diego Union Tribune. Here’s a teaser: Some California utilities are working to turn the clock back to the “good ol’ days” of regulation and guaranteed profits. A bill currently before the Legislature … More Kiesling/smith Commentary In San Diego Union TribuneMore Kiesling/smith Commentary In San Diego Union Tribune

Alternatives To Mandatory Rules For The Electric Grid?

Michael Giberson One of the things that “everyone recognizes,” at least if you accept the conclusions of numerous government statements on the blackout, is that reliability rules for the grid must be made mandatory. An alternative approach is suggested in an editorial piece appearing in Power Engineering (Free registration required): The investigation into [the Three … More Alternatives To Mandatory Rules For The Electric Grid?More Alternatives To Mandatory Rules For The Electric Grid?

Net Metering In Iowa

Michael Giberson On July 21, 2004, the Iowa Supreme Court issued an opinion in the case of Windway v. Midland Power Cooperative, ordering Midland to allow net metering to the owner of a 65-kilowatt wind turbine. [See story at IREC website.] Under net metering, a retail energy consumer with a small generator is only billed … More Net Metering In IowaMore Net Metering In Iowa

Betting On Science Gives Better Results

Lynne Kiesling Thanks to Tyler Cowen for this post about betting on physics research. I love the quote he pulled, and that the researcher is willing to go 6-1 on the Higgs particle. I’ve long thought that Robin Hanson was right, and that people putting money on things (i.e., walking the talk) would enhance our … More Betting On Science Gives Better ResultsMore Betting On Science Gives Better Results

Off To Dallas

Lynne Kiesling I’m at the airport, on the way to give a talk at the Dallas Fed on a recently-completed research paper. Shall we start the pool on how many minutes late my flight will be tonight? Or should I say hours? … More Off To Dallas

Three Cheers For The Us Women’s Soccer Team

Lynne Kiesling Congratulations to the U.S. women’s soccer team, which won the gold medal on Thursday in Athens. The last five of the leading players from the 1991 World Cup team are retiring after this game. I think C. W. Nevius in the San Francisco Chronicle got it right when he wrote about the silent … More Three Cheers For The Us Women’s Soccer TeamMore Three Cheers For The Us Women’s Soccer Team

History Of High Heels

Lynne Kiesling In the comments to my recent post on high heels, dmoss asked when high-heeled shoes became fashionable for women. I seem to recall some archeological evidence of high heels in Egyptian culture, but I can’t document it. I did, however, find a link to shoe research and shoe museums, with some documentation of … More History Of High HeelsMore History Of High Heels

Human Ingenuity And New Business Models

Lynne Kiesling Micha Ghertner had a post commenting on the programmer who outsourced his own job to India. This is a great example of the value creation of mutually beneficial arrangements. It’s so great, in fact, that it reminds me of one of the canonical examples of such ingeneuity, from Adam Smith: But in consequence … More Human Ingenuity And New Business ModelsMore Human Ingenuity And New Business Models