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Lettuce Again, and Lumber
Manage episode 371041863 series 3474483
How is buying lettuce like buying lumber? Each is idiosyncratic, and has to be sorted. Imposing the sorting costs on the buyer is actually a way of price discriminating.
Clement Atlee and Winston Churchill, for the best TWEJ ever.
And a cool new letter, about using transaction costs to separate by type, when type is "private information."
Links:
- "Measurement Costs and Pricing in Retail Produce"
- Clement Atlee: https://blog.oup.com/2017/06/clement-attlee-timeline/
- Atlee and Churchill: https://www.amazon.com/Attlee-Churchill-Allies-Adversaries-Peace/dp/1848876602
- Atlee speech https://www.youtube.com/watch?v=XLuIlkT4gV4
- SOURCE for the joke: https://quoteinvestigator.com/2015/08/13/working-well/
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
40 episodi
Manage episode 371041863 series 3474483
How is buying lettuce like buying lumber? Each is idiosyncratic, and has to be sorted. Imposing the sorting costs on the buyer is actually a way of price discriminating.
Clement Atlee and Winston Churchill, for the best TWEJ ever.
And a cool new letter, about using transaction costs to separate by type, when type is "private information."
Links:
- "Measurement Costs and Pricing in Retail Produce"
- Clement Atlee: https://blog.oup.com/2017/06/clement-attlee-timeline/
- Atlee and Churchill: https://www.amazon.com/Attlee-Churchill-Allies-Adversaries-Peace/dp/1848876602
- Atlee speech https://www.youtube.com/watch?v=XLuIlkT4gV4
- SOURCE for the joke: https://quoteinvestigator.com/2015/08/13/working-well/
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
40 episodi
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