The third episode for TAITC: First, we take up the question of traffic congestion. Then, does the transaction cost approach have a relationship with moral and ethical theory?Resources:Econtalk: Traffic  https://www.econtalk.org/michael-munger-on-traffic/Roger Congleton Book  Solving Social DilemmasCoase and Epstein: Intellectual Portrait Series, Liberty FundJohn R. Commons, 1931, American Economic ReviewRonald Coase, 1937, EconomicaOliver Williamson, Transaction Cost EconomicsDouglass North, InstitutionsAnd of course the TWEJThe letter, for this week, from Anonymous: Does Starbucks have surge pricing? Once you realize that TAITC, then of course they do. 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