scholarly journals Learning to Hoard: The Effects of Preexisting and Surprise Price-Gouging Regulation During the COVID-19 Pandemic

Author(s):  
R. Chakraborti ◽  
G. Roberts
Keyword(s):  
2021 ◽  
Vol 13 (5) ◽  
pp. 2542
Author(s):  
Juan Manuel Sánchez-Cartas ◽  
Alberto Tejero ◽  
Gonzalo León

Algorithmic pricing may lead to more efficient and contestable markets, but high-impact, low-probability events such as terror attacks or heavy storms may lead to price gouging, which may trigger injunctions or get sellers banned from platforms such as Amazon or eBay. This work addresses how such events may impact prices when set by an algorithm and how different markets may be affected. We analyze how to mitigate these high-impact events by paying attention to external (market conditions) and internal (algorithm design) features surrounding the algorithms. We find that both forces may help in partially mitigating price gouging, but it remains unknown which forces or features may lead to complete mitigation.


2020 ◽  
pp. 1-24
Author(s):  
Elizabeth Brake

Abstract What, if anything, is wrong with price gouging? Its defenders argue that it increases supply of scarce necessities; critics argue that it is exploitative, inequitable and vicious. In this paper, I argue for its moral wrongness and legal prohibition, without relying on charges of exploitation, inequity or poor character. What is fundamentally wrong with price gouging is that it violates a duty of easy rescue. While legal enforcement of such duties is controversial, a special case can be made for their legal enforcement in this context. This account distinguishes, morally, price gouging by corporations from that of individual entrepreneurs.


Author(s):  
Benigno E. Aguirre

The term “disaster myth” was initially used as a rhetorical device to help establish the study and management of disasters on firmer ground in the often unwelcoming political context of the Cold War. In the aftermath of World War II, social science research and theorizing eventually supplanted a civil defense perspective of disaster management. Some of the “myths” (or inaccuracies) social scientists refuted centered on assumptions that disasters brought about an increase in crime, panic, psychological dependence and shock, looting, and price gouging. This new perspective adopted a pro-social view to explain the perceived lessening of crime in the immediate post-impact periods of disasters, for credible scholarship indicated that most persons who experienced disaster firsthand as victims became involved in helpful, accommodating behavior. As time went on, ever more topics were dismissed as “myths,” and the word became a term of opprobrium. The present-day use of myth to mean untruth occurs in many of the fields that are interested in the study of disasters, such as public policy, meteorology, economics, sociology, and public health. Nevertheless, this use reveals a profound lack of appreciation of the classical view of myths as the foundational basis of societies, where they provide justifications for rites and customs. The cumulative consequence of the term’s rise may be the narrowing of substantive matters that researchers consider worth pursuing, for one hitherto unforeseen effect of this rise is that the ever increasing number of disaster myths is very likely to discourage the research needed to establish the generalizability and validity of many of these and other knowledge claims. The popularity of the term myth influences research in disaster science even as it facilitates the lack of robust, reproducible empirical knowledge from studies in different developing societies and cultures. The result is that there are not enough cross-cultural tests of the empirical propositions in disaster studies, tests which could show that some of the myth claims lack validity. Moreover, in the absence of any cross-cultural empirical basis to sustain them, the unsubstantiated myth claims fall into stereotyping and perpetuate a self-serving ideology of professional expertise that interprets the viewpoints of others as misunderstandings, or “myths.” The widespread use of the word myth in disaster research shows dubious epistemological reasoning, for it ignores the technical aspects of myths as hypotheses, and the effects of time, counterfactuals, lack of content validity, and insularity, as well as the unmet need for replication. Myths and disasters point to liminal states, to the experience of going through change and passing thresholds, in which both structure and identity are re-imagined. Admitting insufficiently examined myths into this research area is of great consequence because it could assist in the development of an interdisciplinary dialogue and more theoretically discerning approaches. Myths, a central topic for studies in anthropology, are valuable on their own terms, for their research—not as untruths but as essential parts of the world of symbols, beliefs, and ideologies—can guide theorizing and help in obtaining more incisive research findings in disaster studies.


Prometheus ◽  
2013 ◽  
Vol 31 (3) ◽  
pp. 229-239 ◽  
Author(s):  
David Harvie ◽  
Geoff Lightfoot ◽  
Simon Lilley ◽  
Kenneth Weir
Keyword(s):  

2020 ◽  
Vol 48 (4) ◽  
pp. 33
Author(s):  
Marissa Rydzewski

On March 11, 2020, the World Health Organization (WHO) characterized the COVID-19 outbreak as a pandemic. Two days later, the US president declared a state of emergency in Proclamation No. 9994. One of the many problems that arise with a public health crisis is the shortage of essential medical supplies like ventilators, masks, and hand sanitizer. When these items become scarce, some businesses or entrepreneurs try to inflate their prices to make a higher profit when they know they can still sell these necessary items. These high costs on goods during disasters or emergencies can seem unfair and make it difficult for those who need them able to afford them. During these stressful times, it’s important for Americans to recognize and report price gouging when they suspect fraudulent activity when purchasing items. Where do people find the authority on anti-price gouging laws? Typically, it is each state’s responsibility, however, in times of crisis, the federal government could also do what is necessary to protect the public interests. This paper will assist people in understanding what price gouging is, how to recognize when price gouging is occurring, and how to report it. Additionally, this paper will address what responsibility the federal government has to protect Americans from price gouging schemes in times of crisis and what it is currently implementing to prevent these fraudulent actions.


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