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Michael Ostrovsky @mostrovsky.bsky.social · Mar 31

A podcast episode with @skominers.bsky.social and @rhhackett on #congestionpricing in New York City (and beyond). Link: web3-with-a16z.simplecast.com/episodes/con...

Congestion Pricing: Economics, Theory, Reality | web3 with a16z crypto

Everyone hates traffic. One way to reduce it is through congestion pricing, which New York City implemented at the start of the year — a first of its kind for the U.S. We spoke to two economists about...

web3-with-a16z.simplecast.com

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Michael Ostrovsky @mostrovsky.bsky.social · Feb 21

The New York City congestion pricing lawsuit. Very much worth following. Real-time updates at www.courtlistener.com/docket/69652...

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Michael Ostrovsky @mostrovsky.bsky.social · Feb 8

Here is the only tip you need. You are welcome.

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Michael Ostrovsky @mostrovsky.bsky.social · Feb 8

You can remove "during the impending collapse of the federal government/American society" from your statement.

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Michael Ostrovsky @mostrovsky.bsky.social · Feb 4

Hasn’t Mirrlees already written this paper? Zero marginal tax rate at the top?

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Michael Ostrovsky @mostrovsky.bsky.social · Feb 4

Finance too:

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Michael Ostrovsky @mostrovsky.bsky.social · Feb 2

Looking forward to reading it when you’re done!

Michael Ostrovsky @mostrovsky.bsky.social · Feb 2

"You suddenly knock out a random set of the relationships (contracts) and nodes (companies) in a large and very complex network."

Ooooh, exogenous random shock!

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Michael Ostrovsky @mostrovsky.bsky.social · Feb 2

Slides for the earliest of these papers are available at web.stanford.edu/~ost/papers/...

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Michael Ostrovsky @mostrovsky.bsky.social · Feb 2

Two earlier, purely theoretical papers on the topic:
web.stanford.edu/~ost/papers/...
web.stanford.edu/~ost/papers/...

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Michael Ostrovsky @mostrovsky.bsky.social · Feb 2

Shameless self-promotion: I think congestion pricing is one of the most exciting and promising topics in the near future in the area of "Engineering Societal Systems". My most recent paper on the topic is here: web.stanford.edu/~ost/papers/..., see also this thread: bsky.app/profile/most....

Michael Ostrovsky @mostrovsky.bsky.social · Jan 7

One would normally want to wait longer to evaluate the effects of major policy changes, but the results of the first three days of #CongestionPricing in New York City are so striking that it is already possible to make some (at least preliminary) conclusions.

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Michael Ostrovsky @mostrovsky.bsky.social · Jan 30

NBER Market Design Working Group Report, talking about many exciting recent papers in all areas of market design/design of economic mechanisms. www.nber.org/reporter/202...

Working Group Report: Market Design

www.nber.org

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Michael Ostrovsky @mostrovsky.bsky.social · Jan 25

And how do ChatGPT/Claude do on your exams? That’s the real challenge if you do take-home exams or let students use computers.

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Michael Ostrovsky @mostrovsky.bsky.social · Jan 16

A whole bunch here: www.nber.org/conferences/...

Market Design Working Group Meeting, Fall 2024

www.nber.org

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Michael Ostrovsky @mostrovsky.bsky.social · Jan 15

New Dean at Stanford GSB!

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Michael Ostrovsky @mostrovsky.bsky.social · Jan 15

Prices are great and should be left alone

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Michael Ostrovsky @mostrovsky.bsky.social · Jan 15

(If the evidence for those CA specs is so compelling, how come our neighbors don’t adopt them?)

Michael Ostrovsky @mostrovsky.bsky.social · Jan 15

Cost-benefit - I admit I don’t know much about this particular case, but if it’s good enough for the remaining 49 states, it should be fine for CA too. There is a clear, massive distortion in the market - let’s eliminate it unless the evidence for it is mega-compelling. Which I suspect it isn’t.

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Michael Ostrovsky @mostrovsky.bsky.social · Jan 15

I do think there must be a competition problem, but it is only there because of those extra specs which make the market much more restricted and thus easier to “coordinate” prices. More potential (or actual) entry would solve it.

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Michael Ostrovsky @mostrovsky.bsky.social · Jan 15

Remove those CA clean-air specs. Have the same requirements as the neighbors. Obvious first step.

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Michael Ostrovsky @mostrovsky.bsky.social · Jan 12

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Michael Ostrovsky @mostrovsky.bsky.social · Jan 12

Easy fix - allow gasoline from Nevada and Oregon. Totally an own goal by CA.

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Michael Ostrovsky @mostrovsky.bsky.social · Jan 9

If Bill Gates was born in the Soviet Union, he would have probably ended up as a successful research mathematician or physicist.

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Michael Ostrovsky @mostrovsky.bsky.social · Jan 9

This rings true to me. One of the reasons why the Soviet Union was so strong in math and physics is that super-talented people in those areas didn't have nearly as many outside options to apply their talents as did comparably talented people in the United States.

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Michael Ostrovsky @mostrovsky.bsky.social · Jan 8

It is addressing *some* congestion (bridges and tunnels), which is not nothing. But there is more congestion to address, by charging appropriate tolls to taxis, FHVs, and delivery vehicles.

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