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The Answer Is Transaction Costs

The Answer Is Transaction Costs

Michael Munger
Date de sortie : 2023-06-20
© 2023 The Answer Is Transaction Costs
The Answer Is Transaction Costs - QR Code
LibreNew
7 épisodes
Audio
Écouter sur Apple Podcasts
LibreNew
7 épisodes
Audio
Écouter sur Apple Podcasts
Date de sortie : 2023-06-20
© 2023 The Answer Is Transaction Costs
L’épisode le plus récent
Women in Prison, and ALL Costs are Transaction Costs

Women in Prison, and ALL Costs are Transaction Costs

Durée : 19:27
Lecture
Last week's letter asked if charging prices below the "market" price might be rational, but might be an antitrust violation. 
The TWEJ is a joke about women in prison for having violated rules against "moral" pricing. The actual cartoon is here, preserved for posterity by the good Timothy Taylor.
Some links, for more information:
Russ Roberts and Michael Munger on John Locke, Prices, and Hurricane Sandy
John Locke, "Venditio"
Guzman and Munger, "Moral Dilemmas from Locke's Venditio," Public Choice.
A "Loudwire" article that fails to understand even basic economics of scarcity.
Mark Perry drops the truth about "Ticket Scalping" and why it happens...
Adam Smith:  "The real price of everything is the toil and trouble of acquiring it."  (WoN, Bk I, Chapter 5)
Michael Munger, "To the Consumer, All Costs are Transaction Costs." AIER. 
If you have questions or comments, or want to suggest a future topic, email the show at taitc.email@gmail.com !
You can follow Mike Munger on Twitter at @mungowitz
Id. d’épisode : 1000617700937
GUID : Buzzsprout-13059986
Date de publication : 20/6/2023 à 13:00:00

Description

The real price of everything is the toil and trouble of acquiring it."  -Adam Smith (WoN, Bk I, Chapter 5)
In which the Knower of Important Things shows how transaction costs explain literally everything. Plus TWEJ,  and answers to letters.If YOU have questions, submit them to our email at taitc.email@gmail.com And check out the Facebook page, to leave comments and answer comments from other listeners:  https://www.facebook.com/profile.php?id=100092342062186

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