Michael Giberson [This post is second of two on Eisenberg’s essay on unconscionability. Link to part one.] Having spent a little more time with Eisenberg’s essay on unconscionability, I’m less enthusiastic than I was at first, but let’s take a look. Eisenberg advanced two cases in his essay: The Desperate Traveler and The Desperate Patient. …
Michael Giberson [This post is first of two on Eisenberg’s essay on unconscionability. Link to part two.] Use of vague concepts like “unconscionability” in price gouging laws creates problems. Businesses are not always sure what prices are legal under such laws, and as a result may price products uneconomically low or remove products from the market …
Michael Giberson From the inbox, a note from the Monterey Institute about their open position for an energy economist. Technically speaking they are advertising for a international trade & development position, but Monterey professor Jason Scorse said while they need someone for International Econ and Trade, they especially seek someone who can do energy economics …
Monterey Institute Looking for Energy/trade Economist Read More »
Michael Giberson A newspaper report said, “Internet and direct-mail sales have become essential to the growth of smaller winemakers and microbrewers in the last decade.” No doubt the reason that “distributors of alcoholic beverages are pressing for a federal law that would allow states to block interstate sales of wine and beer to their residents….” …
Defending the ‘three Tier’ Alcohol Distribution System Read More »
Michael Giberson Suppose you are a merchant transmission line operator with a DC power line linking point A to point B. Some potential customers prefer to buy transmission capability the day before the power flow, while others would like to buy monthly, annual, or even multi-year contracts. While some customers want 24-hour delivery, others seek …
Auctioning Power Transmission Capacity Contracts of Varying Duration Read More »
Michael Giberson Abe Othman at Constructive Economics has been reading Boone Pickens: T. Boone Pickens, from his autobiography The Luckiest Guy in the World: I believe the greatest opportunity lies in a free marketplace. There are powerful forces afoot trying to restrict that freedom in the interests of the vested and already wealthy. T. Boone …
Michael Giberson Tres Amigas, as seen by their hometown newspaper The Santa Fe New Mexican, “Supersized power hub in southeastern N.M. to link 3 major U.S. grids“: Phil Harris is masterminding an electricity superhighway — a facility near Clovis that will connect the nation’s three main power grids for the first time. The Tres Amigas …
Michael Giberson The upcoming highly publicized, somewhat politicized release of the Chevy Volt is attracting some unfavorable attention because of the significant dealer markup that at least some Chevrolet dealers are seeking. Edmunds AutoObserver reports being asked for $20,000 for the dealer in addition to the MSRP of $41,000. Around automotive blogs, the phrase “price …
Michael Giberson …yes: cocoa market manipulation says Craig Pirrong. He comes to that conclusion after his examination of price movements in cocoa markets revealed all the fingerprints of a classic squeeze. In brief, Pirrong compared July London cocoa prices against September and November London prices and July New York prices over a period from January …
Cocoa Market Manipulation? The Evidence Suggests… Read More »
Michael Giberson As the just published blog post suggests, yes the Knowledge Problem blog is alive! The summer doldrums struck the blog (while the blog authors were gallivanting hither and yon or otherwise engaged). As the gallivanting and engagements are mostly done for the summer, blogging resumes.
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