Price gouging - Wikipedia, the free encyclopedia
Price gouging is a term for a seller pricing much higher than is considered reasonable or fair. In precise, legal usage, it is the name of a felony that applies in some of the United States only duri...
en.wikipedia.org/wiki/Price_gouging
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When anti-price gouging legislation uses extremely vague terms or requires the enforcing agency to define key criteria then the resulting consequences can be even more counterproductive.
www.accf.org/publications/16/potential-effects-of-propo... www.accf.org/publications/16/potential-effects-of-proposed-price-gouging-legislation
Price gouging is difficult to define, but many people believe that they know it when they see it at the gasoline pump. To avoid interference in the proper functioning of the market however, care must be exercised in sorting out opportunistic price gouging from normal (i.e. legal) price volatility.
www.illinois.gov/gasprices/pgVspv.htm www.illinois.gov/gasprices/pgVspv.htm
Thus laws against price gouging will have the effect of increasing the burdens on precisely those most directly affected by the underlying emergency. ...
jcle.oxfordjournals.org/cgi/content/full/3/3/357
The rise in gasoline prices that followed the devastation caused by Hurricanes Rita and Katrina has led to proposals for federal "price gouging" legislation.
jcle.oxfordjournals.org/cgi/content/short/3/3/357
A day after drivers began a panic-buying run on gas, S.C. Attorney General Henry McMaster invoked the state’s price-gouging law with fines up to $1,000 per offense and up to 30 days in jail. Hotlines were set up to take complaints.
www.thestate.com/business/story/937640.html
Price-Gouging; by Walter E. Williams ... In Virginia alone Isabel's death toll was about 36 with many more injured. The hurricane's effects were felt for months, and in many cases still linger.
www.gmu.edu/departments/economics/wew/articles/04/gougi... www.gmu.edu/departments/economics/wew/articles/04/gouging.html
The report also examines state and federal perspectives on price gouging, describing investigative activities by particular states and the effects of state price gouging laws on gasoline retailers.
www.ftc.gov/opa/2006/05/katrinagasprices.shtm www.ftc.gov/opa/2006/05/katrinagasprices.shtm
The recent sudden surge in gasoline prices in the wake of Hurricane Katrina has resulted in the usual cries of price gouging and demands for the government to step in and "do" something to fix the problem.
internationalecon.com/Opinion/PrimerOnPriceGouging.php internationalecon.com/Opinion/PrimerOnPriceGouging.php
Second, if you are RIGHT, we don't need price-gouging prohibitions, because the flood of government provided supplies will drive the price down, and price-gouging won't even be possible. That is what happened in Raleigh after about 6 or 7 days: You could get ice essentially for free.
www.econtalk.org/archives/2007/01/munger_on_price_1.htm... www.econtalk.org/archives/2007/01/munger_on_price_1.html
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