Hurricanes and Gasoline Price Gouging

2020 ◽  
Author(s):  
Timothy Beatty ◽  
Gabriel Lade ◽  
Jay Shimshack
Keyword(s):  
Gasoline Price ◽  
Price Gouging

scholarly journals Algorithmic Pricing and Price Gouging. Consequences of High-Impact, Low Probability Events

2021 ◽  
Vol 13 (5) ◽  
pp. 2542
Author(s):  
Juan Manuel Sánchez-Cartas ◽  
Alberto Tejero ◽  
Gonzalo León
Keyword(s):  
Algorithm Design ◽  
High Impact ◽  
Design Features ◽  
Market Conditions ◽  
External Market ◽  
Contestable Markets ◽  
Terror Attacks ◽  
Low Probability ◽  
Price Gouging ◽  
Impact Events

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.

Price gouging and the duty of easy rescue

2020 ◽  
pp. 1-24
Author(s):  
Elizabeth Brake
Keyword(s):  
Legal Enforcement ◽  
Price Gouging ◽  
Special Case ◽  
Moral Wrongness

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.

Sign in / Sign up

Export Citation Format

Share Document