Micheal Giberson I’m fascinated by this story by Karin Price Mueller, a columnist for The Star-Ledger, about post-Sandy price gouging. Here is the shortened version of the main episode: But after more than 48 hours without electricity …, my three children and I wanted a change of scenery. We went across town to a friend’s …
Columnist Alleges Post-sandy Pizza Price Gouging Read More »
Michael Giberson Something new in the realm of price gouging law enforcement: speedy action. Frequently states begin investigations of consumer complaints only after the emergency is over, conclude investigations months later, and then begin negotiating some sort of settlement with accused stations. You may recall that New Jersey only finally reached a conclusion in its …
New Jersey Moves Rapidly on Price Gouging Investigations Read More »
Michael Giberson At Fiscal Times, economist Mark Thoma discusses price gouging and fairness and capitalism. I hoped Thoma had provided the thoughtful defense of price gouging restrictions that John Carney was looking for. Thoma didn’t really–he had a weightier topic in mind and price gouging was just a lever he used to pry open the …
Michael Giberson An excerpt from a Thomas Sowell column on price gouging: Charges of “price gouging” usually arise when prices are significantly higher than what people have been used to…. This raises questions that go to the heart of economics: What are prices for? What role do they play in the economy? Prices are not …
Michael Giberson John Carney proposes declaration of free-trade zones for gasoline in shortage-afflicted areas. Prices could stay regulated elsewhere, but consumers and merchants would gain the option to trade at higher prices within the zones. Great idea, but there is zero chance that very visible politicians will want to be upstaged by an invisible hand, …
Michael Giberson Jeff Ely, Cheap Talk, blogged “Price Gouging“ Tyler Cowen, Marginal Revolution, responded with “Price gouging and the elasticity of supply“ David Henderson, EconLog, “Jeff Ely on Price Controls During Disasters“ Matt Zwolinski, Bleeding Heart Libertarians, “Price Gouging Roundup“ Sandeep Baliga, Cheap Talk, adds, “Why is there no price gouging in NYC?“ Baliga linked to …
Price Gouging: Can Economics Justify a Price Cap? Read More »
Over the past week professional cycling has been thrown topsy-turvy by the fallout from the US Anti-Doping Agency’s report on their investigation into performance-enhancing drug (PED) use in the U.S. Postal Service team, 1998-2006. The focus of the dossier is, of course, Lance Armstrong, and the eyewitness testimony is extensive and not very surprising to …
Michael Giberson The recent Economics Nobel announcement, which went to Lloyd Shapely and Alvin Roth for theoretical and practical innovations in matching processes, has prompted some misguided carping among market-oriented commentators. The Andrew Coulson post from Cato-at-Liberty (which Lynne quoted favorably yesterday) is one example. Robert Wenzel is another (calling it a prize for “work …
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 …
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 …
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