Heavy Lifting - thoughts and web finds by an economist
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Friday, March 16, 2007
A recent paper of mine appeared in Public Choice investigating anti-scalping laws and their impact on ticket prices at the window. In the discussion of scalping, I pointed out something I think is obvious but had not been addressed in the literature on ticket scalping: namely ticket scalping entails some risk. Specifically, there is a probability that a scalper won't be able to sell their tickets and, for the most part, scalpers don't want to go to the event.
Every year ticket scalping to the Super Bowl or the World Series is bemoaned by politicians, team owners, and frustrated fans (at least those on the demand side), but we rarely see any mention of the failure to sell tickets for a Tuesday afternoon Royals-Rangers game. Perhaps such events are too mundane for the media?
Today's NYT has the following short story (reg req'd):
Desperate fans held fistfuls of tickets to the sub-region here in Columbus. Face value: $61. Asking price? Whatever.
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