Maximilian Auffhammer explored the question, “How Local Should Your Energy Retailer Be?” at the Energy Institute at Haas blog. He said the issue had come up over lunch in the office. The distribution utility of the future is going to buy electrons in this reordered market (mostly renewables and some fossils) and sell them to its … More Should Your Electricity Distributor Also Be Your Electricity Retailer?
Lynne Kiesling It’s no secret that Elinor Ostrom has always been a role model for me; the KP archives contain many references to her work and accomplishments from both of us, and much of my thinking in my own work rests on ideas and inspirations that I have drawn from her work. Lin passed away … More Elinor Ostrom As a Role Model
Lynne Kiesling Today David Henderson has penned the traditional Wall Street Journal commentary on yesterday’s Nobel award to Elinor Ostrom and Oliver Williamson. He provides an excellent summary of the importance of their work, and I recommend it to you highly. In fact, David’s theme reconciles what some commenters have observed as a political or … More Henderson, Smith on the Nobel and Its Implications for Economics
Lynne Kiesling At the Wall Street Journal’s economics blog, Phil Izzo draws some insights from Elinor Ostrom’s work that complement my remarks in my previous post: Ostrom’s work also has something to say about regulation: “The main lesson is that common property is often managed on the basis of rules and procedures that have evolved … More Ostrom’s Work Lends Insight on Regulation
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 More on Ostrom and Williamson, and Decentralized Coordination