The Economic Side of an Egg Heist

There has been another egg heist. During February, 100,00 eggs were stolen from a Pete & Gerry’s Organics truck. Meanwhile, at the border, more eggs have been seized than fentanyl.

Now, it’s Maryland.

Maryland Egg Heist

Located along Maryland’s eastern shore, the “chicken corridor” is the place to find lots of poultry farms. The Washington Post tells us that, after a fire at the Warwick Farm, the area smelled like roast chicken for days. Consequently, it makes sense that the nation’s largest egg seller–Cal-Maine– was the target of an egg heist in the “chicken corridor.”

Destined for Florida, 280,000 large and extra large brown eggs were valued at $1.57 a dozen. A wholesale price, it was far less than stores would charge. During the April 11 pick-up, all was normal. The firm had subcontracted transport to a trucker that appeared legitimate. Then though, the shipment never made it to its Florida destination. If the eggs wound up in NYC, unlabeled and priced attractively, a slew of smaller retailers would have bought them.

When food prices rise, so too do cargo thefts. We’ve see how maple syrup and coffee beans also needed heightened security. In addition, for perishable items, the investigations are relatively brief.

Our Bottom Line: Tradeoffs

In his Nobel lecture, economics laureate Gary Becker tells us that he began thinking about crime after rushing to an obligation on the Columbia University campus. Unable to find a parking space, he had to decide between an illegal spot and a costly parking lot. Choosing the illegal alternative, he said the tradeoff was worth it since the ticket was unlikely.

Similarly, explaining a rationale for crime, Becker suggested cost/benefit analysis. Criminals, he concluded, sidestep legitimate activities for their illegal benefits. Balancing the penalty and its likelihood with the benefit of the crime, they act rationally.

So, where are we? Certainly, with elevated egg prices, egg theft becomes more rational.

My sources and more: Thanks to The Washington Post for the egg heist story. Next FleetOwner took us to the bigger picture about food robberies. And finally, for more on Gary Becker, econlib is always a handy destination.

Please note that several of today’s sentences aboout Gary Becker were in a past econlife post.