IDEAS home Printed from https://ideas.repec.org/a/taf/jeduce/v44y2013i3p277-297.html
   My bibliography  Save this article

Shortage, Shortage, Who's Got the Shortage?

Author

Listed:
  • Robert S. Goldfarb

Abstract

Shortages, while rare, do appear in the United States. Under what circumstances might this happen? Which alleged shortages are “true” economic shortages? When do true shortages emerge in a market economy? What does this tell us about how market economies work? Six types or categories of “true” economic shortages and one category of alleged shortages are identified in this article. Examples include shortages of Christmas toys, flu vaccines, nurses, concert and sporting event tickets, airline seats, parking spaces, and blood supply. Do a few fundamental underlying causes link the six categories? Questions for class discussion are included throughout.

Suggested Citation

  • Robert S. Goldfarb, 2013. "Shortage, Shortage, Who's Got the Shortage?," The Journal of Economic Education, Taylor & Francis Journals, vol. 44(3), pages 277-297, September.
  • Handle: RePEc:taf:jeduce:v:44:y:2013:i:3:p:277-297
    DOI: 10.1080/00220485.2013.795461
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/00220485.2013.795461
    Download Restriction: Access to full text is restricted to subscribers.

    File URL: https://libkey.io/10.1080/00220485.2013.795461?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Carman, K.G. & Kooreman, P., 2010. "Flu Shots, Mammogram, and the Perception of Probabilities," Other publications TiSEM fba970b8-6fc7-449b-acf9-9, Tilburg University, School of Economics and Management.
    2. Connolly, Marie & Krueger, Alan B., 2006. "Rockonomics: The Economics of Popular Music," Handbook of the Economics of Art and Culture, in: V.A. Ginsburgh & D. Throsby (ed.), Handbook of the Economics of Art and Culture, edition 1, volume 1, chapter 20, pages 667-719, Elsevier.
    3. Courtney J. Ward, 2009. "Influenza Immunization Campaigns: Is an Ounce of Prevention Worth a Pound of Cure?," Working Papers daleconwp2010-01, Dalhousie University, Department of Economics.
    4. repec:ucp:bkecon:9781884829987 is not listed on IDEAS
    5. Marie Connolly & Alan Krueger, 2005. "Rockonomics: The Economics of Popular Music," Working Papers 878, Princeton University, Department of Economics, Industrial Relations Section..
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. David Giles, 2007. "Survival of the hippest: life at the top of the hot 100," Applied Economics, Taylor & Francis Journals, vol. 39(15), pages 1877-1887.
    2. Samuel Cameron, 2016. "Past, present and future: music economics at the crossroads," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 40(1), pages 1-12, February.
    3. Kendall, Todd D., 2008. "Durable good celebrities," Journal of Economic Behavior & Organization, Elsevier, vol. 66(2), pages 312-321, May.
    4. Jonathan M. Barnett & Gilles Grolleau & Sana El Harbi, 2010. "The Fashion Lottery: Cooperative Innovation in Stochastic Markets," The Journal of Legal Studies, University of Chicago Press, vol. 39(1), pages 159-200, January.
    5. Luc Champarnaud, 2014. "Prices for superstars can flatten out," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 38(4), pages 369-384, November.
    6. Lee, Jonathan F., 2018. "Purchase, pirate, publicize: Private-network music sharing and market album sales," Information Economics and Policy, Elsevier, vol. 42(C), pages 35-55.
    7. Rustam Ibragimov & Johan Walden, 2010. "Optimal Bundling Strategies Under Heavy-Tailed Valuations," Management Science, INFORMS, vol. 56(11), pages 1963-1976, November.
    8. Gaffeo, Edoardo & Scorcu, Antonello E. & Vici, Laura, 2008. "Demand distribution dynamics in creative industries: The market for books in Italy," Information Economics and Policy, Elsevier, vol. 20(3), pages 257-268, September.
    9. Ivan Pitt, 2010. "Superstar effects on royalty income in a performing rights organization," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 34(3), pages 219-236, August.
    10. William R. Johnson, 2006. "The Economics of Ideas and the Ideas of Economists," Southern Economic Journal, John Wiley & Sons, vol. 73(1), pages 1-12, July.
    11. Mehrafshan, Nima & Goerke, Björn & Clement, Michel, 2016. "The Effect of Unexpected Chart Positions on the Firm Value of Music Labels. An Event Study of Album Success," EconStor Preprints 142161, ZBW - Leibniz Information Centre for Economics.
    12. Giles, David E., 2006. "Superstardom in the US popular music industry revisited," Economics Letters, Elsevier, vol. 92(1), pages 68-74, July.
    13. David Giles, 2007. "Increasing returns to information in the US popular music industry," Applied Economics Letters, Taylor & Francis Journals, vol. 14(5), pages 327-331.
    14. Courty, Pascal & Pagliero, Mario, 2012. "The Pricing of Art and the Art of Pricing: Pricing Styles in the Concert Industry," CEPR Discussion Papers 8967, C.E.P.R. Discussion Papers.
    15. Yang, Zhiyong & Wang, Jingguo & Mourali, Mehdi, 2015. "Effect of peer influence on unauthorized music downloading and sharing: The moderating role of self-construal," Journal of Business Research, Elsevier, vol. 68(3), pages 516-525.
    16. Warr, Richard & Goode, Mark M.H., 2011. "Is the music industry stuck between rock and a hard place? The role of the Internet and three possible scenarios," Journal of Retailing and Consumer Services, Elsevier, vol. 18(2), pages 126-131.
    17. Barnett Jonathan M., 2014. "Copyright without Creators," Review of Law & Economics, De Gruyter, vol. 9(3), pages 389-438, January.
    18. Kim Jin-Hyuk, 2007. "Strategic Use of Copyright Protection to Deter Entry," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 7(1), pages 1-19, September.
    19. Joel Waldfogel, 2012. "Music Piracy and Its Effects on Demand, Supply, and Welfare," Innovation Policy and the Economy, University of Chicago Press, vol. 12(1), pages 91-110.
    20. Richard Florida & Charlotta Mellander & Kevin Stolarick, 2010. "Music Scenes to Music Clusters: The Economic Geography of Music in the US, 1970–2000," Environment and Planning A, , vol. 42(4), pages 785-804, April.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:jeduce:v:44:y:2013:i:3:p:277-297. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/VECE20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.