Michael Giberson A complaint is posted to an online forum: … something needs to be said. I have always noted that price gouging is something that occurs on the [Auction House] and notion seems to be prevalant that “If there is someone out there stupid enough to pay that much, I’m going to charge that …
Michael Giberson Medicare pays medical equipment suppliers based on indexed-adjustments to a price list established 25 years ago. It is extremely unlikely that these prices are efficient. For the past 10 years Medicare has explored the possibility of pricing medical equipment via procurement auctions. Their procurement auction plan is fatally flawed. What can market design …
Michael Giberson Tom Friedman wants to laud the China’s political leadership for their ability to get big things done economically while distancing himself from government’s authoritarian controls on politics. As mentioned in the prior post, Craig Pirrong responds that “it’s a package deal. Governments who think about people purely instrumentally, who think that they can …
China’s Central Government-based Energy Conservation Policies Read More »
Michael Giberson I don’t read Tom Friedman’s columns in the New York Times, but apparently Craig Pirrong does, and I read Pirrong’s Streetwise Professor blog, and Pirrong’s latest post on Friedman reminds me again why I don’t read Tom Friedman’s columns. At least I generally avoid Friedman except when someone else calls attention to a …
Michael Giberson Last week I pointed out that, “Temporary policies have temporary effects – and sometimes that is good news,” pointing to an Obama administration report that found job losses due to the temporary ban on deepwater drilling were smaller than expected. But possibly the government reached their happy results more or less by assumption …
Michael Giberson Post-earthquake in New Zealand, a battle emerges over the best system for rebuilding: Supremo vs. the Invisible Hand. Supremo has its backers: [Construction economist John Jackson said:] Rebuilding should be led by a “supremo”, such as a senior military officer with engineering corps experience, as was chosen for Darwin, and New Orleans after Hurricane …
Supremo Vs. Invisible Hand: Battle over New Zealand Earthquake Recovery Approach Read More »
Michael Giberson Complaints about online clothing resellers “preying” on their customers prompted one reseller to open up about the costs of doing business: A reseller friend of mine bought a dress at Anthropologie on first cut sale. The dress originally retailed for $138 and was marked down to $69.95. She listed the dress on eBay …
Michael Giberson In response to James Kwak’s post on price gouging and the corrupting effects of Econ 101, blogger R.A. at The Economist Free Exchange blog writes “In praise of Econ 101“: I’m sensitive to concerns about the downsides of inequality. And I’ve certainly met my share of Econ 101 robots, who can’t talk beyond …
Michael Giberson Last I checked, James Kwak had 147 comments on his blog post on price gouging and the corrupting influence of Econ 101. Other bloggers have jumped into the fray: Adam Ozimek at Modeled Behavior, the Undergraduate at Observations of a Naive Undergraduate, and David Beckworth at Macro and Other Market Musings. Quite a …
Price Gouging, Ethics, Markets, and the Corrupting Influence of Econ 101 Read More »
Michael Giberson From Politics on the Hudson: Kaplowitz takes on Big Oil, says stronger ban on zone gasoline pricing could create a $1.3 billion “tax break” for New Yorkers. At a news conference today at 12:30 at the Shell Station in Bedford on the corner of Rt. 22 and Rt. 172, State Senate candidate Mike …
New York Assembly Candidate Proposes to *really* Ban Zone Pricing This Time Read More »
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