• Parking Lots, Transaction Costs of the Price Mechanism, and the Pork Pie Fedora Rogue

  • Jul 9 2024
  • Length: 20 mins
  • Podcast

Parking Lots, Transaction Costs of the Price Mechanism, and the Pork Pie Fedora Rogue

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  • Summary

  • Two seemingly similar parking lots at Wrightsville Beach, North Carolina, couldn't be more different in the emergent behaviors they foster. From the orderly lines of the 85-space lot to the chaotic dynamics of the smaller 19-space circular lot, discover how price rationing, queue formation, and transaction costs play critical roles in these everyday systems.

    Things take s a quirky turn with the arrival of a man in a pork pie fedora who disrupts these parking norms, buying spaces directly from beachgoers. This unconventional behavior prompts a deeper discussion on the breakdown of social rules and the challenges of maintaining order when outsiders intervene.

    • Wrightsville Beach Parking Information
    • Locke and Property
    • Porkpie Fedoras, if you NEED one now!
    • Elinor Ostrom and Property Norms
    • To Consumers, ALL Costs are Transaction Costs (AIER)
    • Economic Benefits of Beach Access Points
    • (Parking) Life Is A Beach

    Book o'da'week: Jonathan Haidt, The Anxious Generation: How the Great Rewiring of Childhood is Causing an Epidemic of Mental Illness. 2024, Penguin Press.

    If you have questions or comments, or want to suggest a future topic, email the show at taitc.email@gmail.com !


    You can follow Mike Munger on Twitter at @mungowitz


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Political Science Social Sciences Science Comedy & Humor
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