Propriety, Norms, and Traffic Congestion: Episode 3
The Answer Is Transaction Costs
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Starbucks: Does Starbucks Have Surge Pricing?
How many economists does it take to change a light bulb? I find quite a few answers to this. Government should use deficit spending to change all of the light bulbs, whether they needed to be changed right now or not. The only thing that's keeping the light bulb from changing itself is intrusive government regulation. Does Starbucks have surge pricing? Now you know about surge pricing: Uber uses surge pricing to ration the available cars in times when many, many people all want to get a ride at the same time.
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