Economics

More on Ostrom and Williamson, and Decentralized Coordination

9 Comments / Economics / By

Lynne Kiesling Both Ostrom’s work on governance institutions and common-pool resources and Williamson’s work on governance institutions and the transactional boundary of the firm contribute meaningfully to our understanding of how individuals coordinate their plans and actions in decentralized, complex systems. One of the most important ideas that Williamson has developed in his work is …

More on Ostrom and Williamson, and Decentralized Coordination Read More »

Nobel: Ostrom and Williamson!

5 Comments / Economics / By

Lynne Kiesling Hearty, heartfelt congratulations to Elinor Ostrom and Oliver Williamson for winning this year’s Economics Nobel! From the press release: Economic transactions take place not only in markets, but also within firms, associations, households, and agencies. Whereas economic theory has comprehensively illuminated the virtues and limitations of markets, it has traditionally paid less attention …

Nobel: Ostrom and Williamson! Read More »

When Good Deals Go Bad for Economic Development Planners

Economics, Politics / By

Michael Giberson State and local economic development agencies and assorted politicians like to trumpet their successes in using tax breaks and other incentives to induce companies to locate in their areas. Rarely does anyone report how these deals turn out in the months and years after that initial photo op. From BusinessWeek‘s Management IQ blog, …

When Good Deals Go Bad for Economic Development Planners Read More »

Judge Says Kentucky’s Anti-Price Gouging Law is Constitutional; Virginia Newspaper Says “Legalize It”

Economics, Energy markets, Politics / By

Michael Giberson Over two years ago, the state of Kentucky filed suit against Marathon Oil claiming the company engaged in price gouging in the wake of Hurricanes Katrina and Rita. (Cynics noted that the lawsuit was filed shortly before a primary election in which the Attorney General at the time was running for Lt. Governor.)  …

Judge Says Kentucky’s Anti-Price Gouging Law is Constitutional; Virginia Newspaper Says “Legalize It” Read More »

Did Prediction Markets Miss the Call on Chicago’s Olympic Bid?

9 Comments / Economics, Sport and fitness / By

Michael Giberson The IOC recently selected Rio de Janerio over three competing bids to host the 2016 summer Olympic games.  The Chicago bid was favored in public prediction markets, with prices at Intrade between 50 and 60 at the time of decision and prices at Betfair implying about a 50 percent chance.  Did the prediction …

Did Prediction Markets Miss the Call on Chicago’s Olympic Bid? Read More »

New York Politicians Want to Expand Zone Pricing Ban to Protect Wealthy Customers from Slightly Higher Prices

1 Comment / Economics, Energy markets, Politics / By

Michael Giberson From Newsday: Two Nassau County legislators Thursday called on the State Senate to join the Assembly in extending the ban on zone pricing for gasoline, which they said unfairly charges more in well-to-do communities than in those less so. For readers not up on their New York geography, Nassau County is the portion …

New York Politicians Want to Expand Zone Pricing Ban to Protect Wealthy Customers from Slightly Higher Prices Read More »

Copyright © 2022 Knowledge Problem Archive