Lynne Kiesling I have little to add to today’s congratulations to Al Roth and Lloyd Shapley for this year’s Nobel; Peter Klein has a useful roundup of links to good commentary, with a namecheck to us, in his link to his discussion of market design back in 2007 (thanks!). Mike’s frequent posts on price gouging …
Michael Giberson Koch Industries and various groups supported by the Koch brothers’ political donations are opposed the Boone Picken’s plan to provide government subsidies to anyone who makes or buys natural gas power vehicles. The position seems consistent with the Koch’s generally libertarian policy outlook, though the company is involved in the natural gas industry …
Michael Giberson From The Hill’s Energy & Environment blog, “House Dems: Koch brothers could benefit from oil pipeline approval“: Top Democrats on the House Energy and Commerce Committee want to know whether the Koch brothers stand to benefit from the approval of a controversial oil sands pipeline. Reps. Henry Waxman (D-Calif.), the committee’s ranking Democrat, and …
Waxman to Koch Industries: “Are You Now or Have You Ever Been a Capitalist?” Read More »
Michael Giberson An NPR Morning Edition story, “Indie Truckers: Keep Big Brother Out Of My Cab,” reports on a change of attitude at the American Trucking Association toward proposals for mandatory electronic logging of long-haul truck movements. This month, an industry group called the American Trucking Associations, which represents thousands of trucking companies, dropped its …
Lynne Kiesling Last week, Chicago craft brewery Goose Island agreed to be acquired by Anheuser-Busch, which purchased a 58% equity stake in the brewery. Goose Island founder John Hall argues that the deal enables Goose Island to make investments to increase capacity, an investment necessary for continued profitability. He recognizes that some may be skeptical …
Goose Island: What if Acquiring Capital Cannibalizes Your Market? Read More »
Michael Giberson Harvard economic systems designer Al Roth is profiled in the Boston Globe: Academically speaking, Roth is a pioneer of so-called market design: finding situations where a market is failing — often, a place that most people wouldn’t even recognize as a market — and making it work better. Roth has influenced a cadre …
Market Design Helps People Attain Goals Effectively Read More »
Michael Giberson The new International Journal of Industrial Organization is a special issue devoted to experimental analysis. Among the articles is research into automated market power mitigation procedures similar to the rules employed in the New York Independent System Operator. In brief, the authors find that automated conduct- and impact-based screening of offers succeeded in …
An Experimental Test of Automated Market Power Mitigation Finds the Procedures Work Read More »
Michael Giberson Following up yesterday’s note on randomized testing in free legal aid, here is another kind of applied experimental work: The recently ended Wikipedia fundraising campaign made extensive use of randomized testing to explore just which appeals generated the most revenue. “If everyone reading this donated $5” vs. “If everyone reading this donated $10” …
Randomized Testing for Online Fundraising Appeals Read More »
Michael Giberson Al Roth quotes from an article in the Atlantic discussing the powerful incentives to publish badly done, probably false medical research dressed up as success. In a sense the problem is the same as with other academic “publish or perish” reward systems except the incentives in medical research can be much, much higher. …
Incentives and Fake Success in Medical Research and Public Policy Read More »
Michael Giberson The New York Times Magazine has a feature article on the Ajax soccer development program – they recruit players as young as 7 years old and train them to 19 years if the player is good enough to be kept with the program. Like the development programs of other soccer teams, Ajax begun …
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