4 ms·
If scalpers are buying 40% of the tickets and not finding buyers they'll quickly go bankrupt. If they are finding buyers at the higher prices, that means the m
by ikeboy 9y ago
If scalpers are buying 40% of the tickets and not finding buyers they'll quickly go bankrupt.
If they are finding buyers at the higher prices, that means the market clearing price is well above the list price, and scalping increases total surplus (again, by moving tickets towards those who value them more).
If the ticket sellers are artificially reducing the cost then this is what will happen.
- monocasa 9y agoThey're buying all of the tickets, increasing them by more than double and only selling between 50% and 60% of them, so they still come out ahead.
- FireBeyond 9y ago> more than double That's optimistic. Ben Folds at the Washington Center for Performing Arts, tickets from $15-29... After scalping bots? Cheapest ticket was $130.
- ikeboy 9y agoSeems like nonoptimal behavior on their part - once they've sold all the marked up tickets they can, they should sell the rest for a smaller markup until they're out. And, it's also nonoptimal behavior on the events part, because they could increase total revenue by decreasing seats and increasing price.