4 ms·
"The ticket scalpers" happen when prices of tickets are too low. So either price discovery of the correct price is too risky/costly or the seller wants to subsi
by ArkyBeagle 11y ago
"The ticket scalpers" happen when prices of tickets are too low. So either price discovery of the correct price is too risky/costly or the seller wants to subsidize the buyer for some other reason.
This isn't even dependent on the EMH - if there is no price theory at all, then...
So Uber et al could actually be "ticket scalpers" and there's only a deeply normative reason - not a rational one backed by economic theory - to decry them. Of course this illustrates a .... nice example of shear between complex social arrangements and the (ab)use of mathematics.
Taxi medallions are a textbook example of rents. A business model that goes after rents almost cannot be "evil. Of course if it's your ox being gored...
"Sharing" is Just One Of Those Words - like "nice" or "fair".