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It's your bias showing here, not mine! Mispricing tickets doesn't guarantee people will be "enthusiastic", quite the opposite. You're more likely to get people
by zigzigzag 10y ago
It's your bias showing here, not mine!
Mispricing tickets doesn't guarantee people will be "enthusiastic", quite the opposite. You're more likely to get people who see if they can get a ticket just to avoid being bored on a Saturday and not out of any particular love of the artist - such people are just as likely to win out in an environment where ticket allocation is basically random, which is what happens when tickets are priced below demand. If prices rose, yes you'd get some vanity purchasers, but you'd also allocate tickets towards the genuinely deeply enthusiastic fans who are willing to express that enthusiasm with money.
By "public entertainment" I was including things like talent shows on TV where the audience size is unlimited.