Michael Giberson The Martha’s Vineyard Times: A panel of judges sitting in the federal First Circuit Court of Appeals has upheld a lower court ruling that gasoline prices on Martha’s Vineyard have not been illegally inflated by a conspiracy among retailers, according to a report by “The Docket,” the news blog of Massachusetts Lawyers Weekly. …
Michael Giberson Jason Maynard has produced a thesis examining “The Effects of Anti-Price Gouging Legislation on Supply Chain Dynamics“: Abstract: The purpose of this thesis is to model the effects of anti-price gouging (APG) legislation on the costs to businesses during the recovery period of a disaster. A system dynamics model of a business’s replenishment …
Effects of Anti-price Gouging Legislation on Supply Chain Dynamics Read More »
Michael Giberson The moral intuition that undergirds price gouging laws may be described as “it is wrong to take advantage of people in distress for personal economic gain.” In states with price gouging laws, the laws are typically in force only during officially declared emergencies. This limitation – that they are enforced only during declared emergencies …
Please State the Nature of the Economic Emergency: a Note on Price Gouging Laws Read More »
Michael Giberson Or maybe I should title this post, “Hotel charged peak prices during peak demand period,” or better still: “Hotel price gouging promotes public safety.” A Sea-Tac Airport area hotel raised its rates dramatically as it filled up during a snowstorm one night last month, and several patrons were shocked by bills from almost …
Michael Giberson According to the Internet Movie Data Base, just one movie shows up when you search on keywords “Investigation/Price Gouging/Showdown/Violence” in the Romance genre: The Boss of Big Town. It is a 1942 film in which, “A criminal plot to control produce and dairy products during the wartime emergency is foiled by an courageous …
Best “Investigation/Price Gouging/Showdown/Violence” Romance Movie Read More »
Michael Giberson For a while now Exxon-Mobil Corporation has been seeking clarification from the State of Florida, Department of Agriculture and Consumer Services (DACS) on just how the state’s price gouging law is applied. (Some background in this post from a year ago.) The company wants to know what it needs to do to comply …
How to Avoid Violating Florida’s Price Gouging Law Read More »
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 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 [This post is second of two on Eisenberg’s essay on unconscionability. Link to part one.] Having spent a little more time with Eisenberg’s essay on unconscionability, I’m less enthusiastic than I was at first, but let’s take a look. Eisenberg advanced two cases in his essay: The Desperate Traveler and The Desperate Patient. …
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