Lettuce Again, and Lumber

Send us Fan Mail (https://www.buzzsprout.com/2186249/fan_mail/new) How is buying lettuce like buying lumber? Each is idiosyncratic, and has to be sorted. Imposing the sorting costs on the buyer is actually a way of price discriminating.

Clement Atlee and Winston Churchill, for the best TWEJ ever.

And a cool new letter, about using transaction costs to separate by type, when type is "private information."

Links:

• "Measurement Costs and Pricing in Retail Produce"   • Clement Atlee:  https://blog.oup.com/2017/06/clement-attlee-timeline/  • Atlee and Churchill:  https://www.amazon.com/Attlee-Churchill-Allies-Adversaries-Peace/dp/1848876602  • Atlee speech  https://www.youtube.com/watch?v=XLuIlkT4gV4  • SOURCE for the joke:  https://quoteinvestigator.com/2015/08/13/working-well/ 

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