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How do you feel about ticket scalpers who use bots to buy up concert tickets, then relist them for higher prices? This is only possible because the the tickets

How do you feel about ticket scalpers who use bots to buy up concert tickets, then relist them for higher prices? This is only possible because the the tickets are being sold originally for under market value.

peoplefromibiza 4y ago
> How do you feel about ticket scalpers who use bots to buy up concert tickets, As someone who used to attend more than a 100 concerts/year, I sincerely hate them. > This is only possible because the the tickets are being sold originally for under market value No, this is only possible because tickets can be made artificially scarce. And because there is a portion of the population who owns more money than is able to spend.
- alach11 4y ago
  > this is only possible because tickets can be made artificially scarce Surely you agree there's a supply and demand curve for concert tickets, where if the price is sufficiently low, all tickets will be bought, and if the price is sufficiently high, few or no tickets will be bought? Market value is what people are willing to spend for something. If people are willing to spend more on the tickets (the scalper's price), there's an incentive for the scalper to create bots to scoop up the tickets and resell them. That means the artist performing at the concert is leaving money on the table and letting the scalper profit off their underpricing. The artist should increase ticket prices and cut out the middle man. Of course there are other systems the artist could use to improve the perceived fairness to fans, like linking ID to tickets, or using a lottery system, or selling tickets to anyone willing to wait in line for days. But all of these have their own pros and cons.
  - selectodude 4y ago
    >Of course there are other systems the artist could use to improve the perceived fairness to fans, like linking ID to tickets, or using a lottery system, or selling tickets to anyone willing to wait in line for days. But all of these have their own pros and cons. Which are all non-money methods of charging more. Whether it's with time or luck.

peoplefromibiza 4y ago

> How do you feel about ticket scalpers who use bots to buy up concert tickets, As someone who used to attend more than a 100 concerts/year, I sincerely hate them. > This is only possible because the the tickets are being sold originally for under market value No, this is only possible because tickets can be made artificially scarce. And because there is a portion of the population who owns more money than is able to spend.

alach11 4y ago
> this is only possible because tickets can be made artificially scarce Surely you agree there's a supply and demand curve for concert tickets, where if the price is sufficiently low, all tickets will be bought, and if the price is sufficiently high, few or no tickets will be bought? Market value is what people are willing to spend for something. If people are willing to spend more on the tickets (the scalper's price), there's an incentive for the scalper to create bots to scoop up the tickets and resell them. That means the artist performing at the concert is leaving money on the table and letting the scalper profit off their underpricing. The artist should increase ticket prices and cut out the middle man. Of course there are other systems the artist could use to improve the perceived fairness to fans, like linking ID to tickets, or using a lottery system, or selling tickets to anyone willing to wait in line for days. But all of these have their own pros and cons.
- selectodude 4y ago
  >Of course there are other systems the artist could use to improve the perceived fairness to fans, like linking ID to tickets, or using a lottery system, or selling tickets to anyone willing to wait in line for days. But all of these have their own pros and cons. Which are all non-money methods of charging more. Whether it's with time or luck.