Can State Price Gouging Laws Be Practically Applied to Long-Run Events?

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In this article published in the ABA’s Newsletter of the Pricing Conduct Committee, The Price Point, Joshua Sherman questions whether any type of price gouging law is appropriate for application to long-run events such as the COVID-19 pandemic. Whether one agrees or disagrees with the suitability of price gouging laws in the context of long-run events, Dr. Sherman then argues that the way in which many state price gouging laws are currently written is inconsistent with a proper empirical analysis of price gouging under such circumstances.