Video: Container Freight A Classic Market Failure, NJIT's Ehrlich Says

Video: Container Freight A Classic Market Failure, NJIT's Ehrlich Says

Michael Ehrlich, finance professor at New Jersey Institute of Technology, explains the markers of a "market failure" and how, what he calls, "bad incentives and bad behavior" to overbook, for example, create chaos in market. This costs carriers and shippers an estimated $23 billion annually. Ehlich recaps some of his panel comments from TPM 2017, where he spoke about the NY Shipping Exchange new option for contracting.