Lynne Kiesling At the Wall Street Journal’s economics blog, Phil Izzo draws some insights from Elinor Ostrom’s work that complement my remarks in my previous post: Ostrom’s work also has something to say about regulation: “The main lesson is that common property is often managed on the basis of rules and procedures that have evolved …
Lynne Kiesling Both Ostrom’s work on governance institutions and common-pool resources and Williamson’s work on governance institutions and the transactional boundary of the firm contribute meaningfully to our understanding of how individuals coordinate their plans and actions in decentralized, complex systems. One of the most important ideas that Williamson has developed in his work is …
More on Ostrom and Williamson, and Decentralized Coordination Read More »
Lynne Kiesling Hearty, heartfelt congratulations to Elinor Ostrom and Oliver Williamson for winning this year’s Economics Nobel! From the press release: Economic transactions take place not only in markets, but also within firms, associations, households, and agencies. Whereas economic theory has comprehensively illuminated the virtues and limitations of markets, it has traditionally paid less attention …
Michael Giberson State and local economic development agencies and assorted politicians like to trumpet their successes in using tax breaks and other incentives to induce companies to locate in their areas. Rarely does anyone report how these deals turn out in the months and years after that initial photo op. From BusinessWeek‘s Management IQ blog, …
When Good Deals Go Bad for Economic Development Planners Read More »
Michael Giberson From the New York Times, “New Way to Tap Gas May Expand Global Supplies.” Italian and Norwegian oil engineers and geologists have arrived in Texas, Oklahoma and Pennsylvania to learn how to extract gas from layers of a black rock called shale. Companies are leasing huge tracts of land across Europe for exploration. …
Boom in Shale Natural Gas: Not Just for North America Read More »
Lynne Kiesling This week’s Economist has an outstanding and thorough article on the current status of smart grid investments in the electricity industry. It surveys recent developments from a international perspective as well as focusing on some of the specific developments in the U.S. It highlights the peak demand reduction and renewables integration benefits that …
Michael Giberson Last year, as crude oil and gasoline prices went on their wild ride, gasoline prices in Alaska took a somewhat different path than prices in the lower 48 states. For years, average prices in Alaska were about the same as the U.S. average price. Higher costs of delivery in Alaska were mostly offset …
Michael Giberson Over two years ago, the state of Kentucky filed suit against Marathon Oil claiming the company engaged in price gouging in the wake of Hurricanes Katrina and Rita. (Cynics noted that the lawsuit was filed shortly before a primary election in which the Attorney General at the time was running for Lt. Governor.) …
Michael Giberson John Petersen has written a four-part series of articles on “Battery Investing for Beginners” at AltEnergyStocks (and mirrored at SeekingAlpha). Link to an index for the “Battery Investing for Beginners” series. More battery related posts at AltEnergyStocks. About John Petersen. All John Petersen posts at SeekingAlpha. Don’t miss Petersen’s “How PHEVs and EVs …
Michael Giberson A short Associated Press item from last week provides a perfect illustration of the near-meaninglessness of the daily post-market story interpreting price moments. Natural gas prices tumbled yesterday after the government reported the United States is using so little that it has more in storage now than at any other time on record. …
The Future of Natural Gas Prices: a View from October 2009 Read More »
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