Word: priced
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...years, anyone wishing to develop Kodachrome film had to send it to a Kodak laboratory, which controlled all processing. In 1954, the Department of Justice declared Kodachrome-processing a monopoly, and the company agreed to allow other finishing plants to develop the film; the price of a roll of film - which previously had the processing cost added into it - fell roughly 43%. (Read about Kodak's antitrust case...
...wind-centric energy future, but local communities in coastal areas have fought against offshore, claiming the turbines spoil seaside views. (One iconic project on Massachusetts' Cape Cod, called Cape Wind, has been tied up in legal challenges for eight years.) But the greatest obstacle is economic. Though the price of power from wind has dropped in recent years, it's still more expensive than most electricity from coal or natural gas. And while Obama the candidate wanted renewables to reach 25% of the U.S. energy mix by 2025, we're a long way from that goal (less than...
Upon that basis, economists and finance scholars cleared the way in the 1970s for a new approach to investing and risk management that included index funds, risk-weighted portfolio allocation and mathematical models to price options and other derivatives. A lot of this was, as with Fisher's economics, useful. But a basic assumption underlying much of it--that prices were reliable reflections of economic reality--was problematic...
...stock-market crash gave Shiller and Summers all the ammunition they needed. "If anyone did seriously believe that price movements are determined by changes in information about economic fundamentals," Summers said just after the crash, "they've got to be disabused of that notion by Monday's 500-point movement." The crash also demonstrated that prices didn't follow the statistical model of a random walk--if they did, a 20% one-day market drop like that of 1987 should happen only once in billions upon billions of years...
...Chinese firms - sometimes in joint ventures - and Lee says there are numerous clandestine firms. The North Koreans earn high marks for their scientific and mathematical skills and come substantially cheaper than their Chinese counterparts - $300-$500 a month, one-third the cost of a Chinese engineer, or half the price of an Indian one, he says...