I get a mention in the September 12, 2017, Deal Book column in the New York Times: “Price caps discourage extraordinary supply efforts that would help bring goods in high demand into the affected area,” Michael Giberson, an instructor with the Center for Energy Commerce in the Rawls College of Business at Texas Tech University, … More Giberson Makes His Mark on Wall Street and Other Notes on Price Gouging Commentary
Michael Giberson A range of recent news stories report on price gouging, but the wide variety of cases in which the term “price gouging” gets invoked raises the question of what actually is price gouging. About all that these cases have in common is a price for a good higher than some other price used … More Price Gouging Defined: Looking for Family Resemblences
Michael Giberson “Price gouging” is by intent a pejorative term. Nobody wants to get gouged, by a price or in any other manner. Analysts advocating or defending price flexibility for key goods and services in disaster struck areas are burdened from the beginning by the derogatory term. In an editorial essay advocating for post-flooding pricing … More Legalize Sustainable Pricing to Promote Recovery from Disasters
Michael Giberson Tornadoes and floods have led to official declarations of disasters for parts of at least four states (Oklahoma, Missouri, Iowa, and Texas). All four states have laws against excessive price increases after emergencies, at least for the counties covered by the disaster declaration, and three of the Attorney Generals have issued a press … More Iowa Flooding and Price Gouging
Michael Giberson Last week a show on Fox Business News ran a segment titled, “Preventing Price Gouging of Storm Victims.” Spoiler: Show host Gerri Willis and Florida Attorney General Pam Bondi chat about price gouging, but nothing much about “preventing price gouging” except that if you do it in Florida, the state “will be coming … More Fox Business: Preventing Price Gouging of Storm Victims
Michael Giberson A post at Mother Jones‘s Political Mojo blog sees a silver lining in current price gouging on guns (see “Gun Lovers Freaking Out Over Price Gouging“): “It might help keep sales in check—at least temporarily—while Congress gets around to thinking about thinking about considering an assault-weapon ban.” Well, technically speaking, current prices and … More Mother Jones on Guns and Ammo Price Gouging
Michael Giberson Jeffrey Tucker at Laissez Faire Today points out Peter C. Earle’s blog on the emergence of a black market in gasoline in northern New Jersey and New York City during the post-Storm Sandy period. A few days after the storm swept through, when politicians began reasserting their willingness to enforce price gouging limits … More Notes on the Post-sandy Nj/nyc Black Market in Gasoline
Newly showing up in the “price gouging” news searches: claims of price gouging on guns. … More Price Gouging on Guns?
Michael Giberson A graphic illustrating states with price gouging laws (blue) and states without them (gold). For a list of the states with citations and related notes, see my earlier “List of States With Anti-Price Gouging Laws.” So far as I know, the only serious attempt to explain why some states do have price … More Which States Have Price Gouging Laws?
Michael Giberson Last week the New Jersey Office of the Attorney General announced settlement of two of the 24 post-Sandy price gouging cases the state has pursued. Shiv Shivam Inc., doing business as Lukoil in Piscataway agreed to pay $20,000 to the state; C.S. George & Sons, Inc., doing business as George’s Gulf Station in … More Gasoline Retailer Getting Gouged by New Jersey Attorney General?