Comments on: Are People Rational About Gas Prices?

By: Renny

Renny — Sun, 04 Jun 2006 12:25:04 +0000

Petrol costs money, lots of people don’t have much money. There are solutions in the sky

By: Half Sigma

Half Sigma — Thu, 01 Jun 2006 14:44:17 +0000

And talking about XOM again, it was a HUGE mistake for those two firms to combine. I don’t see the operational synergies, but being so huge sure has made the company a target for lawmakers.

By: Matt

Matt — Wed, 31 May 2006 08:33:37 +0000

Gasoline is the only thing one buys where even the terminally lazy can do price-comparison before they make a purchase, because the prices at every station are advertised in numbers big enough to read from the road at the prevailing speed of traffic.

Make it easy for the intellectually lazy to do something, and you'll find more intellectually lazy people doing it. (For the record, I wouldn't drive to Indiana to buy my gasoline if I didn't smoke. The tax-induced price differential of a carton of cigarettes between Hammond and Chicago is enough to make the gasoline essentially free. That I'm saving on gas as well is just a cool bonus.)

By: Kyle Bennett

Kyle Bennett — Tue, 30 May 2006 22:24:08 +0000

One thing to remember when comparing the $/hour rate of money saved vs the $/hour rate of money earned, is that the money saved compares to pretax money earned (unless the thing you save on is tax-deductable, or the pay is under the table), so saving $10.00 nets you more than going out and earning $10.00.

And, on the other side, don't forget the gas used idling in line.

Not that it affects the point you're making all that much - I'm sure nobody in those lines has even thought to try the calculation.