Alex Tabarrok
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Recommendstheir ownrcmnd.app
Modern Principles of EconomicsTheir words
Modern Principles of Economics is best principles of economics textbook; great videos, clear writing and excellent applications and examples!
23 August
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Lovedrcmnd.app
Enlightenment 2.0Their words
In my 2015 post discussing Joseph Heath’s excellent book Enlightenment 2.0
20 August
14 August
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Lovedrcmnd.app
Energy Transitions in Regulated MarketsTheir words
Gowrisankaran, Langer and Reguant have an excellent paper, Energy Transitions in Regulated Markets
9 August
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Likedrcmnd.app
PressureTheir words
Who would have thought that someone could make a gripping movie about predicting the weather? Nevertheless, Pressure delivers.
23 May
12 February
From one piece Chaos and Misallocation under Price Controls (with 2 co-authors) 4 beliefs, in the piece's order there
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korrents.com
Misallocation, not the aggregate quantity reduction, is the main welfare cost of price controls.Their words
The quantity reduction is not the main cost of price controls. The misallocation is.
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Their words
We show that equilibrium generically occurs at neither the Harberger nor Glaeser-Luttmer benchmark. Cost-minimizing suppliers drive allocations to vertices, not interiors. Corners are not an assumption but an outcome about what cost-minimizing suppliers choose. The correct benchmark is corners, not random, and corners generate qualitatively different welfare properties: losses far larger than either efficient or random distributions, and discontinuous jumps from small parameter perturbations.
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korrents.com
Feast-or-famine corner outcomes, not modest proportional belt-tightening, are the generic result of price controls.Their words
This paper shows that feast or famine, not modest belt-tightening, is the generic outcome of price controls.
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Their words
These corner allocations create a distinct source of cross-market misallocation, separate from the aggregate quantity loss (the Harberger triangle) and from within-market misallocation emphasized in prior work.
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