Michael Giberson I’ve followed up the long post on the NYMEX v. IntercontinentalExchange decision here with a post on Midas Oracle in which I contemplate potential adverse consequences for some prediction markets (or, indeed, anyone publishing market data for which they assert copyright). An excerpt: While some caveats would emerge in a longer discussion, a …
Michael Giberson As noted here previously (PJM Wants to Reorganize Market Monitoring Unit, Move On), PJM has filed a proposal with FERC to reorganize its market monitoring unit, hoping to quell controversy and settle a pair of complaints filed against the grid operator earlier this year. Not so fast, say Baltimore Sun columnist Jay Hancock. …
Baltimore Sun Columnist on Pjm: Let’s See Why Grid Watchdog Barked Read More »
Lynne Kiesling Anything Greg Clark writes is worth reading, even if you don’t agree with his hypotheses or his conclusions. His new book, A Farewell to Alms, explores industrialization in detail and offers some novel hypotheses for why industrialization happened when, where and how it did. I have not yet read it, but I certainly …
Michael Giberson A fact? An opinion? A creation? An idea? What kind of thing is a price? Perhaps too philosophical for you this morning. Try the question this way: Is the NYMEX’s report of daily futures contract prices like a phone book, like the census taker’s count of population in an area, or more like …
What is a Price? The Courts Think They Know; The Courts Are Wrong. Read More »
Lynne Kiesling SoundExchange is a nonprofit that is meant to collect royalties on behalf of artists and recording labels. As such, its legal activities are strongly legislatively circumscribed; this Wired article cites SoundExchange’s legal activities according to the relevant legislation: “(A) the administration of the collection, distribution, and calculation of the royalties; “(B) the settlement …
Soundexchange, Lobbying, and the Nature of Bureaucracy Read More »
Lynne Kiesling Jeff Jacoby has a nice column in yesterday’s Boston Globe on ticket scalping laws, and how they are being eliminated in some states but not others. He picks up on some of the same themes that Mike did in his recent post about how Major League Baseball has jumped on the StubHub bandwagon …
Lynne Kiesling Yesterday the New York Times had an interesting article on new uses for the by-products of biofuels production, particularly glycerol and lignin. Here’s the story of one entrepreneurial venture: In the foothills of the Rocky Mountains, not far from the Coors brewery in Golden, Colo., PureVision Technology is making lignin. A natural compound …
Michael Giberson The Washington Post Food section ran an article with Tyler Cowen, professor of economics at GMU, blogger at Marginal Revolution, and author of Discover Your Inner Economist. An economist at George Mason University, Cowen has rather unusual criteria for restaurant selection. He doesn’t first look at the menu, the ambiance or the reviews. …
Michael Giberson Kevin Hassett thinks Congressman Devin Nunes has a good idea (also here): It’s hardly a surprise when politicians fail us. Last week, with energy policy in play, we saw disappointments galore. But the biggest surprise of the week was a bill introduced by Congressman Devin Nunes, a California Republican, that may, if enacted, …
Nunes Proposes Market Subsidy to Displace Energy Policy Read More »
Lynne Kiesling Last week’s Economist had a writeup and synopsis about Nayan Chanda’s new book, Bound Together: How Traders, Preachers, Adventurers, and Warriors Shaped Globalization. I have not yet read the book, but given that he starts from the premise that globalization started the moment that humans left Africa, I am certainly intrigued. The rise …
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