Licensing is typically justified on the grounds that market mechanisms will not mitigate the problems associated with asymmetric information. In the wake of Hurricanes Frances and Katrina, Florida reduced restrictions on construction contractors, yet in times of crises informational asymmetries...

This article first reviews Professor Rapp's conclusion that economic arguments offer a decidedly negative view of anti-gouging laws. It then analyzes and critiques Professor Rapp's economic defense of such regulations by (1) applying a standard economic concept - elasticity - and highlighting...