Over 20 years ago, some middling economists (cite) estimated that the Small Business Set-Aside program reduced Forest Service Timber prices by 15%. By limiting the potential pool of available bidders to only smaller lumber mills, you get less competition and worse prices. Now San Francisco is re-learning that lesson. In 2016, it refused to do…
Using procurement for political ends gives you worse prices.
Using procurement for political ends gives you worse prices.
09 Mar 2024 Leave a comment
in applied price theory, economics of bureaucracy, entrepreneurship, income redistribution, industrial organisation, law and economics, politics - USA, Public Choice, public economics, rentseeking, theory of the firm, transport economics, urban economics Tags: cartels, competition and monopoly, competition law
Quotation of the Day…
07 Oct 2023 Leave a comment
in applied price theory, economic history, history of economic thought, industrial organisation Tags: competition and monopoly, competition law
Tweet… is from page 5 of Gabriel Kolko’s 1963 book, The Triumph of Conservatism: Contrary to the consensus of historians, it was not the existence of monopoly that caused the federal government to intervene in the economy [in the late 19th and early 20th centuries], but the lack of it. DBx: Market competition is astonishingly…
Quotation of the Day…
Initial Reactions to the Amazon Antitrust Case
28 Sep 2023 Leave a comment
in industrial organisation, law and economics Tags: competition and monopoly, competition law
The Federal Trade Commission and 17 state attorneys general have sued Amazon.com, as the FTC press release says, “alleging that the online retail and technology company is a monopolist that uses a set of interlocking anticompetitive and unfair strategies to illegally maintain its monopoly power.” The FTC complaint filed with the US District Court for…
Initial Reactions to the Amazon Antitrust Case
Richard Epstein on Antitrust
15 May 2022 Leave a comment
in industrial organisation, law and economics, politics - USA, Richard Epstein Tags: competition law
But @Facebook is decried as a monopoly!?
05 Feb 2022 Leave a comment
in applied price theory, entrepreneurship, financial economics, industrial organisation, law and economics, politics - USA Tags: competition and monopoly, competition law, creative destruction
Josh Wright | UCLA Law and Economics, Relational Contracts, and Antitrust
04 Feb 2022 Leave a comment
in applied price theory, applied welfare economics, Armen Alchian, comparative institutional analysis, economics of regulation, F.A. Hayek, history of economic thought, industrial organisation, law and economics, Ronald Coase, theory of the firm Tags: competition law
The tight Detroit automaker oligopoly had wildly unstable market shares and investment strategies
13 Oct 2021 Leave a comment
in applied price theory, Austrian economics, economic history, entrepreneurship, industrial organisation, law and economics, managerial economics, organisational economics, politics - USA, survivor principle, theory of the firm, transport economics Tags: antitrust economics, competition law, creative destruction
Regulating Monopolies: A History of Electricity Regulation – Learn Liberty
30 Aug 2021 Leave a comment
in applied price theory, applied welfare economics, Austrian economics, comparative institutional analysis, economic history, economics of regulation, law and economics Tags: competition law, network economics
Harold Demsetz interview
19 Jul 2021 Leave a comment
in applied price theory, applied welfare economics, comparative institutional analysis, economic history, entrepreneurship, history of economic thought, industrial organisation, law and economics, market efficiency, property rights, survivor principle, theory of the firm Tags: competition law, Harold Demsetz
John D. Rockefeller: The American Oil Magnate
25 Feb 2021 Leave a comment
in economic history, energy economics, entrepreneurship, industrial organisation, managerial economics, organisational economics, survivor principle Tags: competition law
Richard Posner 2008 interview on antitrust law
26 Oct 2020 Leave a comment
in applied price theory, comparative institutional analysis, economic history, economics of bureaucracy, economics of regulation, history of economic thought, industrial organisation, law and economics, politics - USA, Public Choice, Richard Posner, theory of the firm Tags: competition law
Judge Frank Easterbrook on antitrust law history
23 Sep 2020 Leave a comment
in Adam Smith, applied price theory, applied welfare economics, Austrian economics, comparative institutional analysis, economic history, economics of bureaucracy, economics of crime, economics of education, economics of information, economics of regulation, entrepreneurship, history of economic thought, industrial organisation, law and economics, politics - USA, Public Choice, rentseeking, Richard Posner, Ronald Coase, Ronald Coase, survivor principle Tags: competition and monopoly, competition law, creative destruction, offsetting behaviour, patents and copyright, The fatal conceit, The meaning of competition, unintended consequences
Did @NZComCom freet about Netscape’s natural monopoly?
08 Sep 2020 Leave a comment
in economics of bureaucracy, entrepreneurship, industrial organisation, law and economics, politics - New Zealand, politics - USA, Public Choice, survivor principle Tags: competition law, creative destruction
Younger people won’t recognize the names of these winner take all, enduring natural monopolies
04 Aug 2020 Leave a comment
in applied price theory, Austrian economics, economic history, economics of regulation, entrepreneurship, industrial organisation, law and economics, survivor principle Tags: competition law, creative destruction, pessimism bias, The fatal conceit
Richard Epstein, “A History of Public Utility Regulation in the Supreme Court”
17 May 2020 Leave a comment
in applied price theory, applied welfare economics, Austrian economics, comparative institutional analysis, economic history, economics of information, economics of regulation, history of economic thought, industrial organisation, law and economics, Public Choice, Richard Epstein Tags: competition law, network industries
Utopia, you are standing in it! 
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