Michael Giberson Platts is reporting that the Maryland Public Service Commission is considering hiring an outside law firm to evaluate whether there is sufficient evidence of a lack of competitiveness in PJM’s power markets to bring a case before the Federal Energy Regulatory Commission. [Maryland PSC chairman Steven] Larsen told Platts his agency believes that …
How Competitive Are Pjm’s Markets? Maryland Wants to Know Read More »
Michael Giberson One of the difficulties that beset planned economies is that without good prices for retail goods, it becomes difficult to price capital goods well. Of course, without good prices for capital goods, it become hard to allocate capital goods to their best use, and resources become wasted. (I think we can credit Ludwig …
(Somewhat Technical) Perils of Regulation: The Shrinking Proxy Group Read More »
Michael Giberson A surge in the demand for ethanol — touted as a greener alternative to gasoline — could have a serious environmental downside for the Chesapeake Bay, because more farmers growing corn could mean more pollution washing off farm fields, a new study warned yesterday. A Washington Post story on the study paints a …
Michael Giberson Raymond J. Learsy, writing in the Huffington Post, is incredulous that “over a span of two weeks during the Aspen Ideas Festival and the Aspen Energy Conference” no one had the sense to bring up the one idea offering a solution to problems like our national security being at risk, our environment being …
Michael Giberson The Philadelphia Inquirer ran an excellent story about the PJM electric power market, market performance on high demand days, and the growing interest in managing demand by engaging consumers. Excerpts: It was at 4 p.m. last Aug. 2, toward the end of a midsummer heat wave, when the Philadelphia region’s power-plant fleet began …
Every Consumer Benefits from Small Reductions in Peak Demand Read More »
Michael Giberson I cross-posted “Deep-Pocketed Manipulators are a Prediction Market’s Friend” at prediction market group blog Midas Oracle, where it generated a counter post from Stanford prof. Eric Zitzewitz, “Is Manipulation Good for a Prediction Market? Accuracy Isn’t Everything.” I replied with “What should be Done about Manipulation of Prediction Markets?” Also of note, a …
Michael Giberson Proposals to increase government oversight of the energy markets, particularly over-the-counter trading, are unlikely to reduce volatility in those markets, some market analysts predict. So begins a Dow Jones Newswire story on the reaction to the Senate Permanent Subcommittee on Investigations report on “excessive speculation” in natural gas markets. (I discussed the report …
Michael Giberson Online magazine Slate has published the Tim Hartford column on possible manipulation of the “H. Clinton becomes President in 2008” prediction market at Intrade. (Yes, the same column that appeared June 29 at the Financial Times , and blogged about here on July 1.) On this topic, Slate is late and even the …
Deep-pocketed Manipulators Are a Prediction Market’s Friend Read More »
Michael Giberson At Economist’s View, Mark Thoma has had a pair of recent postings on experimental economics. A few days ago he quoted extensively from a posting at VoxEu by Steffen Huck and Jean-Robert Tyran. In brief, Huck and Tyran said, “Experimental economics opens the door to better policy design. Laboratory experiments should be used …
Michael Giberson “I think there are a significant amount of people who call themselves hedge-fund managers who have been very lucky because they were able to ride the market wave.” — Daniel A. Strachman, author of The Fundamentals of Hedge Fund Management In mid-2006, that lucky group included a number of employees of Amaranth Advisors …
Copyright © 2022 Knowledge Problem Archive