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The problem with raising the prices is that people are willing to pay so much for a ticket exactly because they're difficult to get. If the tickets were actual
by armada651 3y ago
The problem with raising the prices is that people are willing to pay so much for a ticket exactly because they're difficult to get.
If the tickets were actually easily obtainable but more expensive then paradoxically people wouldn't be willing to pay as much for the ticket because of a perceived loss of value.
And as mentioned in the other reply, many people disagree with the "greed is good" philosophy, hence the /s.
- philwelch 3y agoThe root cause of scarcity here is the number of seats available. The biggest tours routinely book stadiums and arenas with tens of thousands of seats, and despite the scalping and high prices these venues usually sell out. It’s not like they’re all playing tiny downtown clubs. So how exactly are you going to make tickets easier to get?
- nayuki 3y agoScarcity - exactly. Say that an artist is holding a concert and 20 thousand seats are available. But she has 50 million fans all over the world. How do you allocate these 20 thousand seats - who will get them? You can either satisfy the highest bidders, the first in line, or a random lottery. But you cannot choose to disappoint no one. Economics is all about making hard choices, and you can't simply wish them away.