During and immediately after crises such as natural disasters, various parties will claim that someone is price gouging. What is price gouging, anyway? How do professional economists define it?
Category Archives: Economics
What does it mean when someone says demand is price “elastic” or “inelastic”? Why should I care?
‘How Environmentalists Lost the Battle Over TCE’
Part 2: Reducing concentration 5x costs much more than 5x as much
Others are commenting on the Los Angeles Times article by Ralph Vartabedian titled “How Environmentalists Lost the Battle Over TCE.”
Neutral Source recently posted a pair of blogs about how inflation forecasting was like risk assessment, and how it isn’t. David Wessel started the discussion in his Capital column in the March 16 edition of the Wall Street Journal. On March 21 he posted a selection of interesting reader responses. (A subscription to wsj.com is required to view them.)
Yesterday Neutral Source explained why inflation forecasting is like risk assessment. In a very important way, of course, they are very different.