Group items tagged

This article is about the spike in corn prices in 2007. It talks about the price of corn which is the main ingredient in ethanol, the primary alternative fuel, is increasing fast and causing a series of problems on the market e.g. the price of other food which is made of corn is rising dramatically, farmers complains that corn price is too high for them to feed live-stocks. There are also many predictions in the article about the future price of corn based on the demand and supply rules. This is an great article related to what we have learned. So check it out!!

This article is about China fighting inflation in May 2011. It describes the food prices in China were up 10.3% in January versus a year earlier and the price of gas also rises. The article also outlines the plan of China government to keep down the price of goods--price control. Check it out!

This article outlines the rising gasoline price in US in 2008 and speculation about how and whether Americans will change their behavior in the long run. The article compares the change in gas price in US to many other countries, and give the PED value of gasoline. So check it out!

This article outlines the rising gasoline price in US in 2008 and speculation about how and whether Americans will change their behavior in the long run. The article compares the change in gas price in US to many other countries, and give the PED value of gasoline. So check it out! (week 9)

I thought that this article was very related to our topic this week and it is an interesting read. It talks about how an enormous price cut in Venezuela brought about many different effects and mixed emotions. Because of the price cut, people were happy to get things at a very cheap price. However, there were some consumers that were unhappy because of the shortage.

The United Nations could implement a universal price floor for carbon offsets. This is due to their falling prices, which have dropped by 95%. This was due to the falling demand for them. In order to stop this a price floor would help significantly, especially because the UN wants them to be implemented in developing countries to reduce carbon emissions.

While many assume that a price ceiling on gas would benefit the population, this article takes an opposing view. A price ceiling on gas would cause a shortage, due to the increase in demand of gas at the lower prices, and would cause longer wait times at gas stations. Moreover, it would lead to waste on a larger scale, because the gas is now less valuable.

This article talks about the inspection of 1500 businesses in Venezuela that have been charging (too) high prices for their products. The subject of Price controls arises as a method of intervention suggested by Nicolas Manduro, the president of Venezuela.

Due to extreme weather changes, droughts and floods are causing bad harvest all around the world. This causes corn and wheat supply to decrease and food prices to increase. Food however has a very inelastic demand. Food is a necessity and therefore people are willing to purchase it at higher prices. 

The article talks about the price freezes that have been proposed for gas and electricity markets as well as for controls on pension fund management companies, of which the latter will receive a 0.75% price cap while the former is still being rejected by the government. The article also lists some examples of price controls that have been implemented in the past.

This is a slightly older article from late 2012. Apple increased the minimum price for paid apps in the European app store from 0.79€ to 0.89€. The incentive behind this change was to match the US$0.99 equivalent in minimum price. The demand though did not change much as the price change was minimal, and it only applied to a small fraction of all apps.

This article discuss the value of the price elasticity of demand for the iPhone. If calculated according to the equation for price elasticity of demand, the iPhone would have a brand elasticity of 4.7, which means that Apple would lose almost 4.7 percent of iPhone sales for each corresponding 1 percent increase in price.

This article talks about how teams price their tickets in the inelastic portion of their demand functions. To ensure maximum attendance and revenue, they lower the ticket price in order for more people to buy.

An article about the elasticity on the Super Bowl Ticket prices. Increases from $1,250USD -> $2,600USD and $950USD -> $1,500USD. It shows that teams want to charge more per seat instead of filling up all the seats; they prefer a high elasticity

NFL Commissioner Roger Goodell, Giants' co-owners Steve Tisch and John Mara, Jets owner Woody Johnson, David Tyree, former Jets player Emerson Boozer, former Jets player Curtis Maritn, CEO of the NY/NJ Superbowl Host Committee Al Kelly attend the 'Join The Huddle' Road To Super Bowl XLVIII Kick Off Mobile Tour [...]

As oil prices keep falling, more and more nations are beginning to worry about the overall effect on their economy. For the first time, Saudi Arabia is moving to cut its prices to explicitly compete with the price of mining oil in the U.S. and Russia, looking to protect its share in OPEC, and possibly go on the defensive to preserve its own domestic and regional shares of oil sales if prices continue to drop.

Annual inflation has remained low. In december economists expected prices to rise, however inflation remained constant and below the Federal Reserve's annual target of 2%. Gas prices in December increased. They had never increased so much not even the last time in June when they rose of a 3.6%.

This article talks about how the PED of tobacco is not as inelastic as once previously thought. The price of tobacco is increasing due to the government adding taxes, and because of the large increases in prices, the demand for tobacco is decreasing.

This articles explains the worries and benefits that come with putting Cancer and Aids drugs under price control. Generally, the positive effect will be on drug companies, and the consumers. A win, win situation

The NIH are against government price controls and for the third time in a row had to reject the governments aid, as it would be against the law if the government did aid the NIH. The government wanted to fund drugs essential to specific and vital purposes.

In his latest health push, New York City Mayor Michael Bloomberg proposed a bill that would require retailers to keep tobacco products out of sight. It's companion bill, however, is seeking to ban cheap cigarettes and cigarillos by setting a price floor of $10.50 a pack across the board.