Tag Archives: pricing for scarcity

Japanese Koi Carp

    Anything strike you as special about this fish here? Well, it’s worth 1.8 million dollars. It won grand champion at the All Japan Koi Show in 2017, and is the most expensive koi fish ever sold. https://www.businessinsider.com/koi-fish-worth-millions-expensive-japan-2018-12?r=US&IR=T Advertisements

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A failed pricing system

This photograph illustrates a failed pricing system for a scarce resource. Nepal currently charges $9,000 for a licence, which is clearly too little. Nepal is desperately poor and all the people (apart from the Sherpas) in this photograph are rich. … Continue reading

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