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Luck is often a better determinant than willingness to pay because it biases towards more “superfans” who will have the time of their lives at your show. Jeff B
by anbop 7y ago
Luck is often a better determinant than willingness to pay because it biases towards more “superfans” who will have the time of their lives at your show. Jeff Bezos might be willing to pay $100K for a ticket even if he had only the slightest interest in Ed Sheeran, while a 14-year-old who knows every word to every song might be willing to spend every penny she has, which is $12.57. By requiring something like endless clicking on a website, or standing in like for 5 hours, to get a ticket, you make people pay in time rather than money, which although not fully equally distributed is still more equally distributed than money.
- ikeboy 7y agoTime can be exchanged for money. And requiring people to burn money-equivalents for tickets produces a large loss - the potential gains from supposedly better distribution hardly seem worth it.