Bad market design or maverick trading?

I’m talking to Jim Bushnell, an Associate Professor at the University of California, Davis – who was in New Zealand in August as the S. T. Lee fellow at the New Zealand Institute for the Study of Competition and Regulation.

Last week, Jim gave us his perspective on the California electricity crisis and Enron’s role in it. He doesn’t think they were the real problem. This week he starts to explain what was.

In August, Bushnell gave a lecture in Wellington asking If Electricity Liberalisation is So Great, why does everybody hate it?