The Importance of a Settlement Price

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There was a decent sized city in Samaria. And near it was between the Tigris and Euphrates. It's one of the oldest cities on earth. If something is a very old book, we call it an Ur text. So suppose I have three bags of grain in Ur. Well, but I'm 10 miles outside of town. Why don't I just go to the middle of a field and sell it? That seems like I'm going to lose because of the competition. But at the Suq there's a platform. Since that we can find each other. We can agree on a priceBecause there's many buyers and many sellers. There's a way to deliver because I

Economist and author Michael Munger of Duke University talks about his book, Tomorrow 3.0, with EconTalk host Russ Roberts. Munger analyzes the rise of companies like Uber and AirBnB as an example of how technology lowers transactions costs. Users and providers can find each other more easily through their smartphones, increasing opportunity. Munger expects these costs to fall elsewhere and predicts an expansion of the sharing economy to a wide array of items in our daily lives.