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If scalpers (who have overheads of their own) are making money then that implies the restaurant is doing the economic equivalent of leaving a lot of $100 bills
by ls612 3y ago
If scalpers (who have overheads of their own) are making money then that implies the restaurant is doing the economic equivalent of leaving a lot of $100 bills on the floor. Before those bills were being picked up by random customers but now they are being picked up by people who heard there were restaurants leaving $100 bills on the floor. But the cause is ultimately the restaurant choosing to just give up free money by not charging a price so that supply and demand equal and the market clears.
- anonymouskimmer 3y agoYou're assuming my "bad" and "worst" scenarios do not exist. And also assuming that knock-on effects don't occur which cause issues in other parts of the economy. A cartoon-like example: spend X+Y money to dine at restaurant, spend -Y less money elsewhere, people working elsewhere are laid off and can no longer afford to spend money at restaurant. Restaurant loses customers. Restaurant closes.
- ls612 3y agoIf that happened then the scalpers would go out of business first as demand at the face value would be falling closer to the supply.
- anonymouskimmer 3y agoMutually assured destruction does happen. The problem is if there are more potential scalpers who are convinced they know why the previous scalper failed than there are restaurants that can absorb the hit.