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California's water also needs pricing more realistically for city dwellers as well as farmers.
But he said he thought corporate trading in patents would become more commonplace, and pricing more routine.
Mr. Montgomery said that the administration planned to make pricing more flexible so that riskier borrowers pay higher premiums.
"Sellers are pricing more realistically," said Cynthia Barrett, a vice president with Prudential Douglas Elliman in Bridgehampton.
Compared with traditional insurance, "at about 10,000 miles or less, a transition happens" that makes MetroMile's pricing more attractive, Mr. Pretre said.
On the other hand, lowering the tax rate on dividend income would make stock pricing more rational and would gradually end this era of irrational exuberance.
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