At the Harvard Business Review Blog Rafi Mohammed offers a new proposal to combat price gouging. I don’t like it. First, of course, the title “The Problem with Price Gouging Laws” is exactly the title of my Regulation magazine piece on price gouging laws, and so it dilutes the amazing notoriety I gain from association …
Michael Giberson A range of recent news stories report on price gouging, but the wide variety of cases in which the term “price gouging” gets invoked raises the question of what actually is price gouging. About all that these cases have in common is a price for a good higher than some other price used …
Price Gouging Defined: Looking for Family Resemblences Read More »
Michael Giberson Tornadoes and floods have led to official declarations of disasters for parts of at least four states (Oklahoma, Missouri, Iowa, and Texas). All four states have laws against excessive price increases after emergencies, at least for the counties covered by the disaster declaration, and three of the Attorney Generals have issued a press …
Michael Giberson Last week a show on Fox Business News ran a segment titled, “Preventing Price Gouging of Storm Victims.” Spoiler: Show host Gerri Willis and Florida Attorney General Pam Bondi chat about price gouging, but nothing much about “preventing price gouging” except that if you do it in Florida, the state “will be coming …
Fox Business: Preventing Price Gouging of Storm Victims Read More »
Michael Giberson When it comes to gasoline price increases, how much do prices have to rise before a price increase is “unconscionably excessive”? What difference between prices before and after a declaration of emergency is large enough to create a “gross disparity”? Twenty percent? Ten percent? Five? In Connecticut these days it looks like a …
Norwalk Connecticut Gas Station Settles on Charges of Sandy-related Price Gouging Read More »
While seeking out the guns and ammo price gouging post at Mother Jones (see link here) I came across a post-Katrina 2005 Political Mojo post by Bradford Plumer on price gouging that I don’t recall having seen before, and it provides a link to a Dave Hoffman post-Katrina post at PrawfsBlawg that actually advances some …
Hoffman on Price Gouging (in Which I Take on Claims Made in a 7-year Old Blog Post) Read More »
Michael Giberson A post at Mother Jones‘s Political Mojo blog sees a silver lining in current price gouging on guns (see “Gun Lovers Freaking Out Over Price Gouging“): “It might help keep sales in check—at least temporarily—while Congress gets around to thinking about thinking about considering an assault-weapon ban.” Well, technically speaking, current prices and …
Newly showing up in the “price gouging” news searches: claims of price gouging on guns.
Michael Giberson Today the Master Resource blog published my list of ten price gouging topics needing economic research. As I point out in the introduction, many economists think price gouging is too simple to be worth studying. After all, it is just a kind of price cap, and we know how price caps work. My response is that …
Economics Research Topics in Price Gouging from Odd-even Rationing to Guilt and Shame Read More »
Michael Giberson The New York Attorney General’s office continues its aggressive pursuit of price gouging violations, announcing another 12 cases last week. From the press release: “Our office will continue to take enforcement actions against price gougers because ripping off New Yorkers is against the law,” Attorney General Schneiderman said. “We are actively investigating the hundreds of …
Another Round of Price Gouging Charges in New York Read More »
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