I’ve actually had this idea for a while, but I can rarely bring myself to find enough time for a proper article rather than just writing short comments. Thanks for expressing your interest—it has certainly given me additional motivation.
In the meantime, if you haven’t seen them already, you can find discussions where I question some established wisdom in economics here and here.
“But even if consumer prices did rise the merger is probably still a good idea. It’s long been known that even small cost savings can outweigh losses to consumers from a price increase”
to which Tomasz Wegrzanowski replied: Williamson trade-off model is exactly why people hate economists.
Not once in history of the universe has there been anything benefiting the rich and powerful, for which some economists didn’t make a model showing it’s really in everybody’s best interest.
Cost savings are bullshit, price increases are real.
I’d be interested in a LW or Discussion post by you on this topic.
I’ve actually had this idea for a while, but I can rarely bring myself to find enough time for a proper article rather than just writing short comments. Thanks for expressing your interest—it has certainly given me additional motivation.
In the meantime, if you haven’t seen them already, you can find discussions where I question some established wisdom in economics here and here.
just saw this point repeated 10 minutes ago.
on Tabbarok[http://marginalrevolution.com/marginalrevolution/2011/03/privatize-the-spectrum.html] saying
“But even if consumer prices did rise the merger is probably still a good idea. It’s long been known that even small cost savings can outweigh losses to consumers from a price increase”
to which Tomasz Wegrzanowski replied: Williamson trade-off model is exactly why people hate economists.
Not once in history of the universe has there been anything benefiting the rich and powerful, for which some economists didn’t make a model showing it’s really in everybody’s best interest.
Cost savings are bullshit, price increases are real.