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These are the best new articles, videos, podcasts, and other resources we have found to price system and market efficiency. They bring economics to life by showing students real-life examples and current events.
 

News Articles

(Listed from most recent to oldest)


Blackouts aren’t unusual in Cuba, but this one is different | Vox (Oct. 22, 2024)
Four blackouts and a hurricane have disrupted every facet of life in Cuba this week, revealing the weaknesses of the island’s centrally planned and managed economy that has not invested in power grid improvements, and is unable to obtain enough oil from its allies, most of whom are preoccupied with their own crises.

Why the LA Rams are worth $2 billion more than the LA Chargers | CNBC (Sept. 5, 2024)
Prices communicate valuable info, and distill them into a simple number. You don't need to know why the Rams are worth $2 billion more than the Chargers, but if you're curious, here's a breakdown.

Digital price tags can change the cost of groceries 6 times per minute | Popular Science (Jun 20, 2024)
Walmart is rolling out digital price tags, enabling the retailer to more easily change prices when products near expiration or demand is elevated.

Focus: Too many tractors: As boom times fade, farm equipment piles up | Reuters (May 9, 2024)
The price system is busy coordinating a fall in crop prices with demand for farm equipment and more.

Strawberry Case Study: What If Farmers Had to Pay for Water? | New York Times via Pajaro Valley Water Management Agency (Dec. 30, 2023)
The Pajaro Valley in California operates a program that functions as a tax on water, solving a tragedy of the commons problem of water that plagues other areas in California.

Farmers plant more cocoa outside Africa as prices rally | Reuters (Oct. 2, 2023)
The invisible hand is planting cocoa in South America. Higher cocoa prices and smaller yields in the Ivory Coast are prompting farmers in South America to start cocoa farming. With better irrigation, technology, and regulatory advantages, these growers are poised to gain ground in a competitive global market.

When It’s Easy to Be a Landlord, No One Wants to Sell | New York Times (Feb. 11, 2023)
As the management costs of renting a home go down, homeowners are responding by renting more and selling homes only when they can get a higher return.

What's dynamic pricing? An operations management scholar explains | The Conversation (November 17, 2022)
This article explains in detail what dynamic pricing is, and applies the theory to tickets for the performances of Taylor Swift in 2022 and Bruce Springsteen in 2023.

Amazon accidentally inflation-proofed products. It's a case study in pricing that you'll want to steal | Inc.com (November 3, 2022)
Dynamic pricing enables Amazon to rapidly adjust to changes in consumer demand and willingness to pay.

Gas Station Glitch Gives Drivers 69 Cents Per Gallon Price | Newsweek (June 10, 2022)
One way to see how prices allocate resources is to see what happens when a price changes dramatically. For 3 hours, patrons of one California gas station filled up every vehicle and gas container they could, for just $0.69/gallon.

Helium shortage could affect your healthcare | Forbes (May 24, 2019)
Why is a shortage in helium causing issues for MRI machines and semiconductors? Planet Money has a podcast on the same topic.
 

Videos

Can You Beat the Market? | MRU
What is the efficient markets hypothesis? And how is information priced into the stock market?

I, Rose | MRU
Alex Tabarrok shares the story of how prices ensure that roses from all over the world arrive for one of the most romantic holidays of the year.

It’s a wonderful loaf | PolicyEd
This video is a derivative of the classic story of I, Pencil. As you watch it, you can’t help but wonder at the magic of markets.

Podcasts

The Maine Potato War of 1976 | NPR Planet Money
A potato saga in the NY futures markets led to the domination of the Western Russet potato over the Maine Katahdin.

An Empty Office becomes a Home | The Indicator
Offices become homes as the market adjusts to changing consumer tastes.

The birth and death of the price system | Planet Money
As we celebrate the price system, how did the birth of the price tag help with efficiency? And its ‘death’ also has to do with efficiency…

The zoo economy | Planet Money
Yes, the zoo economy. Zoos can’t buy and sell their animals so they still operate under a barter economy of sorts. See the importance of markets by learning about a modern barter economy.
 

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