In my remarks the other day about this year’s Roth/Shapley Nobel, I said that I thought the work was important and useful because it led to the implementation of better institutions in situations in which prices are unlikely to emerge organically. A post from Andrew Coulson at Cato at Liberty fleshes out some reasons why … More Matching and a static environment
Lynne Kiesling I have little to add to today’s congratulations to Al Roth and Lloyd Shapley for this year’s Nobel; Peter Klein has a useful roundup of links to good commentary, with a namecheck to us, in his link to his discussion of market design back in 2007 (thanks!). Mike’s frequent posts on price gouging … More Roth/Shapley Nobel
Michael Giberson It’s been a while since we’ve commented on the secondary market for sports event tickets. Partly, I think, the practice has become legal and common in most circumstances and the on-line markets make the practice more transparent. What was once a seemingly repugnant transaction has been normalized. Or, at least, it is becoming … More StubHub and Major League Baseball
Michael Giberson Bryan Caplan, in How Wise is Repugnance?, questions Leon Kass’s argument that “repugnance is the emotional expression of deep wisdom.” (From Kass’s essay, “The Wisdom of Repugnance.”) Kass runs through a list of things that he thinks the reader will accept as obviously repugnant (incest, bestiality, mutilating corpses, cannibalism, and so on) and … More Repugnance, outrage, and other moral excuses
Michael Giberson Al Roth at Market Design, directs our attention to The Ticket Economist: Grownup economists recognize that there’s a place for secondary markets, but I wonder if a convention of ticket re-sellers doesn’t have something of the flavor of a sex-workers’ conference, in the sense that the participants are engaged in an industry that … More Who likes ticket scalpers?