Cato reminder

by Russ Roberts on December 1, 2008

in Books

Just a reminder that I’m speaking today (Monday), at noon at the Cato Institute, followed by lunch and a book signing. It’s too late to register on line but you can just show up and register on the spot. There is no charge for the event.

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{ 5 comments }

Daniel December 1, 2008 at 5:32 am

And of course, you can watch it online:
http://www.cato.org/event.php?eventid=5539

Mike Munger December 1, 2008 at 12:04 pm

Well, there IS a charge for the event.

It is just that the charge is ZERO, your market price.

The fact that there is no explicit subsidy speaks well for you, I think. People will come see you, for free! Given the value of their time, you must be a pretty hot guy.

And, let me say, I've ALWAYS thought you were hot. Don't tell anybody, though.

Akos Beres December 1, 2008 at 12:17 pm

Dan,

thanks for the link!

MnM December 1, 2008 at 1:46 pm

"Well, there IS a charge for the event.

It is just that the charge is ZERO, your market price.

The fact that there is no explicit subsidy speaks well for you, I think. People will come see you, for free! Given the value of their time, you must be a pretty hot guy.

And, let me say, I've ALWAYS thought you were hot. Don't tell anybody, though."

Posted by: Mike Munger | Dec 1, 2008 12:04:55 PM

LOL!! I just about spit Coca-Cola through my nose!

Dr. Munger, you've made my Monday.

T L Holaday December 1, 2008 at 4:55 pm

There are weaknesses to the argument.

  • Zero was the price, but it was only the market-clearing price if there were exactly zero empty seats and exactly zero turned away.
  • Even if those conditions were observed, other prices might have also cleared the market, if all the attendees were willing to pay some positive sum if it were required.
  • The resource was allocated not by an auction process, but by a combination of administrative fiat and a race.
  • Data on what prices scalpers were realizing is absent.

I hope it went well. I am looking forward to the Cato podcast.

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