Michael Giberson At Streetwise Professor, Craig Pirrong examines the CFTC’s case against alleged oil market manipulators Parnon Energy, Arcadia Petroleum LTD and Arcadia Energy (Suisse), all affiliates of the trading firm Arcadia. Whatever the ultimate merits of the case, he says the CFTC is going to have trouble making the charges stick. In part the …
Michael Giberson Texas is becoming a recognized leader in smart grid development, and just wait, it is going to get better. One external bit of circumstantial evidence for this claim comes from a meeting last week at the White House hosted by Aneesh Chopra, Assistant to the President and Associate Director for Technology within the White …
Michael Giberson A few years ago we mentioned a study, “Abnormal Returns from the Common Stock Investments of the U.S. Senate,” finding that U.S. Senators as a group outperformed the market in their stock holdings. The researchers are back now with a similar examination of the U.S. House of Representatives, titled, simply enough, “Abnormal Returns …
Abnormal Stock Market Returns for Members of the House of Representatives Read More »
Michael Giberson New in the Proceedings of the National Academy of Sciences, a paper showing how the “wisdom of crowd” effect can be undermined when members of the “crowd” are given information about what the rest of the crowd predicted. Averaged or full information about others’ predictions tended to narrow the diversity of predictions in …
“How Social Influence Can Undermine the Wisdom of Crowd Effect” Read More »
Michael Giberson Image: MDOHKYgasprices_APR20_gasbuddy hosted on Flickr. Chart created at GasBuddy.com. Kentucky: Attorney General Jack Conway filed a motion last week seeking a temporary injunction to force Marathon Petroleum Co. to return its gasoline prices to April 26 levels, the date the state’s Governor declared a state of emergency due to flooding. From WLKY.com: Attorney General …
Gasoline Price Gouging Complaints Spur Kentucky, Maryland Attorneys General into Action Read More »
Michael Giberson Do liberals or conservatives of libertarians tend to have a better understanding of economics? It is a question that Daniel Klein and Zeljka Buturovic investigated in a pair of papers appearing in Econ Journal Watch (one and two). The first paper appeared to show that a college education didn’t lead to much improvement in economic …
Economic Understanding: “There’s a Lot of Confirmation Bias out There” Read More »
Lynne Kiesling As a coda to Mike’s post yesterday regarding the CRS study of the effects of removing oil subsidies on gasoline prices, here’s Ron Bailey at Reason reminding us that ethanol subsidies are almost triple those to the oil companies, and with little to show either environmentally, economically, or energetically. Courtesy of Dr. Vino, …
Things That Caught My Eye: Subsidies, Wine, Leds, Dismal Economists Read More »
Lynne Kiesling I’ll be interested to see how the political, economic, and environmental consequences of this weekend’s new carbon approach in the UK unfolds; according to the Guardian (and the too-much BBC that I listen to): Cabinet ministers have agreed a far-reaching, legally binding “green deal” that will commit the UK to two decades of …
Michael Giberson The second Saturday in May has been anointed as “World Fair Trade Day.” If you’re interested in buying fair trade coffee, consider what Lawrence Solomon, owner of the Green Beanery in Toronto, has to say about the fair trade marketing system. (In brief: not a good way to help or even to express care for …
Lynne Kiesling Here are some links that caught my eye recently: At Cheap Talk, Sandeep Baliga recounts a tale of the emergence of legal institutions in an underground economy on the south side of Chicago. This post prompted me to think hard this morning about whether it’s a misnomer to do as he does and …
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