Economists ponder the 360 shortage problem

An "Undercover Economist" at Slate has taken a moment to look at the possible reasons for the shortage of 360s we've seen up to this point.

Comparing it to everything from last year's introduction of the slim-line PS2 to the Nintendo cartridge shortage of
'88, a few New York-based academics get to spout off on the inevitable manufacturing constraints at launch, why MS
didn't raise prices themselves (and make a quick buck thanks to early demand), and why underpricing consoles is analogous to selling cheap tickets to rock concerts (so the kids buy lotsa merchandise).

Now we've examined the shortage conspiracy angle before, but sometimes the simplest—that is, the Napoleonic—explanation is best: "Never attribute to conspiracy that which can be explained by incompetence." Just remember that in order for anything to be a hot gift,
it... must be It.

[Thanks, Will and Guslav]