Alex Tabarrok reviews Al Roth‘s new book, Who Gets What — and Why: The New Economics of Matchmaking and Market Design, in the Wall Street Journal. An excerpt: Most economic theory focuses on commodity markets, in which anyone willing to pay the price gets the good and anyone not willing to pay the price doesn’t. In … More Al Roth’s New Book on Matchmaking and Market Design
OVERVIEW: A report filed with the US Department of the Interior recommended that terms governing the leasing of federal land for oil and gas development be updated to reflect social costs associated with such development. While such costs may be policy relevant, I suggest social costs are smaller than the report indicates and the recommended policy … More Social Costs of Oil and Gas Leasing on Federal Lands, Carefully Considered
In April the U.S. Department of the Interior issued an advanced notice of proposed rulemaking (ANPR) seeking comments on a handful of economic issues surrounding the leasing of federal lands for oil and gas development. Most of the questions raised in the ANPR concern aspects of the “government take” – the royalty rates, minimum bids, … More How Should the Blm Reflect Social Costs when Leasing Federal Lands for Oil and Gas Development?
On May 12, 2015 Kentucky Attorney General Jack Conway filed a lawsuit against Marathon Petroleum Company alleging Marathon has engaged in anti-competitive practices that cause higher gasoline prices for Kentucky consumers. In making the announcement Conway said he has tried over and over to get the Federal Trade Commission or U.S. Department of Justice interested in the case, but … More The Primary Reason for Quadrennial Gasoline Price-gouging Charges Against Marathon in Kentucky
The American Public Power Association (APPA) recently published an analysis of retail power prices, but it makes an elementary mistake and gets the conclusion wrong. The APPA analysis, “2014 Retail Electric Rates in Deregulated and Regulated States,” uses U.S. Energy Information Administration data to compare retail electric prices in “deregulated” and “regulated” states. The report itself presents … More Elementary Error Misleads Appa on Electricity Pricing in States with Retail Electric Choice
First, some background On April 11, 2015, an editorial piece by Randy Simmons and Megan Hansen on the cost of wind energy was published by Newsweek. A DailyKos blogger posted the next day disputing various claims in the piece and observing Newsweek had not disclosed Simmons’s apparent oil industry connections. The day after that the … More Newsweek Cloaks Industry-funded Environmentalist’s Hit Piece