Lynne Kiesling I really like this column by economist Charlie Wheelan about the airline industry: There are a lot of industries and businesses that I don’t thoroughly understand. But they’re different from the airlines in two key respects: 1) They don’t routinely make my life miserable; and 2) They seem to make a lot of …
Lynne Kiesling Just a quick little note that despite high crude inventories in the US, the dominant driver right now in world oil markets is the chance that Turkey will invade Iraq to attack Kurdish militants there. These roilings have added about $7/bbl to oil prices, currently hovering around $87/bbl.
Michael Giberson Yesterday saw the release of reports from two organizations focused on the North American power transmission system. On the reliability side of the grid, the North American Electric Reliability Corporation released the 2007 edition of its annual Long-Term Reliability Assessment. (The first link is to the news release, the second to the report. …
Reliability and Markets: New Reports Out from NERC, ISO-RTO Council Read More »
Lynne Kiesling In the comments to my previous post on the Nobel announcement yesterday, David Tufte asks for some extended comments on the Hurwicz, Maskin, Myerson Nobel decision. My perspective shares quite a bit with those of Alex Tabarrok in Reason yesterday and Pete Boettke in the Wall Street Journal today (subs. required). Both Hurwicz …
Lynne Kiesling Mechanism design is the topic awarded this year’s economics Nobel, with the award going to Leonid Hurwicz, Eric Maskin, and Roger Myerson (two Northwestern connections there!). Mechanism design was the bread and butter of my graduate training, and has led to some important insights with respect to incentives, contract design, and market design.
Lynne Kiesling Today sees a couple more articles about Radiohead’s decision to sell their album online, at prices determined by the buyer. This New York Times article highlights one thing that I find interesting: letting the radio listeners themselves determine which songs off the album should be considered the “hit singles”: The Radiohead camp has …
Michael Giberson The Houston Chronicle‘s Tom Fowler and Janet Elliot have a pair of articles on the Texas power market restructuring experience and current talk about reforming state policy. From the lede in Sunday’s “Many Texas consumers feel competition in the state’s energy markets has been a costly failure“: When Texas lawmakers agreed to open …
Houston Chronicle Explores Texas Power Market Problems, Fixes Read More »
Michael Giberson Tracy Davis, writing at Energy Legal Blog, takes note of the Supreme Court’s decision to take on a pair of Ninth Circuit court decisions: In a pair of decisions issued last December, Public Utility District No. 1 of Snohomish County, WA v. FERC and California Public Utilities Commission v. FERC, the Ninth Circuit …
Case Involving Unilateral Modification to Power Contracts Heading to Supreme Court Read More »
Lynne Kiesling Last Thursday we saw De Novo Dahl, Bedouin Soundclash, and Hot Hot Heat at the Vic in Chicago. Punch line: great show, very fun. More below the fold.
Lynne Kiesling Thanks to Jesse Walker at Reason for the link to the Baltimore Sun’s Bay & Environment Blog. If, like me, you are interested in environmental issues pertaining to water use, this site looks like it will be quite useful. The current top post by Rona Kobell prompts me to think about something that …
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