A Quote by Richard Thaler

The supply price and the demand price should be roughly the same. You're not supposed to have two different prices. According to economists.

Richard Thaler

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According Demand Different Economists Price Prices Roughly Same Should Supply Supposed Two

Quote Author

Richard Thaler
American - Economist
Born: September 12, 1945

Like any business, the oil industry runs on the basic premise of supply and demand. The more supply - the lower the price. The higher the demand - the higher price. In other words, the more people who can buy oil, the higher the price of oil.

Ron Wyden

To economists, prices serve as crucial signals to producers and consumers. In a regulated market, the state sets prices high enough for private companies to cover their costs and earn a guaranteed profit for their investors. But in a deregulated market, prices should vary with demand and supply.

Alex Berenson

Four things have almost invariably followed the imposition of controls to keep prices below the level they would reach under supply and demand in a free market: (1) increased use of the product or service whose price is controlled, (2) Reduced supply of the same product or service, (3) quality deterioration, (4) black markets.

Thomas Sowell

But it is clear that the price of labour has no necessary connection with the price of food, since it depends entirely on the supply of labourers compared with the demand.

David Ricardo

I do believe that oil production globally has peaked at 85 million barrels. And I've been very vocal about it. And what happens? The demand continues to rise. The only way you can possibly kill demand is with price. So the price of oil, gasoline, has to go up to kill the demand. Otherwise, keep the price down, the demand rises.

T. Boone Pickens

The price of crude oil accounts for 55 percent of the price of a gallon of gasoline, driven by global supply and demand. The United States depends on foreign sources of oil for 62 percent of our nation's supply. By 2010, this is projected to jump to 75 percent.

Gary Miller

The opinions that the price of commodities depends solely on the proportion of supply and demand, or demand to supply, has become almost an axiom in political economy, and has been the source of much error in that science.

David Ricardo

In short, what the living wage is really about is not living standards, or even economics, but morality. Its advocates are basically opposed to the idea that wages are a market price-determined by supply and demand, the same as the price of apples or coal. And it is for that reason, rather than the practical details, that the broader political movement of which the demand for a living wage is the leading edge is ultimately doomed to failure: For the amorality of the market economy is part of its essence, and cannot be legislated away.

Paul Krugman

People always get what they want. But there is a price for everything. Failures are either those who do not know what they want or are not prepared to pay the price asked them. The price varies from individual to individual. Some get things at bargain-sale prices, others only at famine prices. But it is no use grumbling. Whatever price you are asked, you must pay.

W. H. Auden

You want supply to always be full, and you use price to basically either bring more supply on or get more supply off, or get more demand in the system or get some demand out.

Travis Kalanick

If you're going to sell stock and somebody wants to buy it at a price and that price is not a price you dictate, but demand dictates, sell it to them now.

Barry Diller

The price of ability does not depend on merit but on supply and demand.

George Bernard Shaw

The natural price, therefore, is, as it were, the central price, to which the prices of all commodities are continually gravitating.

Adam Smith

Even if the constants which economists wish to determine were less numerous, and the method of experiment more accessible, we should still be faced with the fact that the constants themselves are different at different times. The gravitation constant is the same always. But the economic constants-these elasticities of demand and supply-depending, as they do, upon human consciousness, are liable to vary. The constitution of the atom, as it were, and not merely its position, changes under the influence of environment.

Arthur Cecil Pigou

The idea that when people see prices falling they will stop buying those cheaper goods or cheaper food does not make much sense. And aiming for 2 percent inflation every year means that after a decade prices are more than 25 percent higher and the price level doubles every generation. That is not price stability, yet they call it price stability. I just do not understand central banks wanting a little inflation.