How is buying lettuce like buying lumber? Each is idiosyncratic, and has to be sorted. Imposing the sorting costs on the buyer is actually a way of price discriminating.Clement Atlee and Winston Churchill, for the best TWEJ ever.And a cool new letter, about using transaction costs to separate by type, when type is "private information."Links:"Measurement Costs and Pricing in Retail Produce"  Clement Atlee:  https://blog.oup.com/2017/06/clement-attlee-timeline/ Atlee and Churchill:  https://www.amazon.com/Attlee-Churchill-Allies-Adversaries-Peace/dp/1848876602 Atlee speech  https://www.youtube.com/watch?v=XLuIlkT4gV4 SOURCE for the joke:  https://quoteinvestigator.com/2015/08/13/working-well/ 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