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People hate "scalping", even giving it this bad name, but I think that they just don't understand the economics. It is an important part of an economy and help
by daniel-s 5y ago
People hate "scalping", even giving it this bad name, but I think that they just don't understand the economics.
It is an important part of an economy and helps reduce scarcity by bringing a product's price closer to what it should be is a market economy.
A vendor doesn't know what the free market price for something is. They have to guess, this is speculative. If they guess low they get shortages and if they guess high they have unsold inventory.
The scalper is doing you a service. They're securing you access to a scarce product. You're paying for that service. You are also deciding that the benefit of this is worth more than the price you're paying for it. In exchange, the scalper is rewarded the difference between cost and secondary sale price. Remember, the scalper is also speculating that they know better than the original vendor what the item's sale price should be. If correct they are rewarded for this risk.