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I found this EconTalk episode [0] quite interesting. The takeway was the idea that all scalper-like transaction had something in common. Most of the time, the
by BeniBoy 7y ago
I found this EconTalk episode [0] quite interesting.
The takeway was the idea that all scalper-like transaction had something in common. Most of the time, the law would forbid it, but the underlying "moral" part was that the transaction in that case is not really volontary. So he coined the term of eu-volontary transaction (ie truly volontary).
One of the rule of such a transaction is "Neither party is coerced into exchange by dire necessity, and neither party has enough bargaining power to impose an abusive price." I believe this is the issue here.
[0]:https://www.econtalk.org/munger-on-exchange-exploitation-and-euvoluntary-transactions/ https://www.econtalk.org/munger-on-exchange-exploitation-and...