4 ms·

This assumes the only dynamics are "the seller wants to make as much as possible" and "the buyer wants to spend as little as possible". There are plenty of cas

by RHSeeger 11mo ago

This assumes the only dynamics are "the seller wants to make as much as possible" and "the buyer wants to spend as little as possible". There are plenty of cases where the seller (artist, venue, etc) want to keep prices low to allow a wider audience to attend the show.

WalterBright 11mo ago
> There are plenty of cases where the seller (artist, venue, etc) want to keep prices low to allow a wider audience to attend the show. There are only so many seats in a venue. Suppose there are 1000 seats and 5000 people want tickets. What's your plan on how to allocate them?
- RHSeeger 11mo ago
  First come first serve, or a lottery, or any number of other algorithms. The point being "the people with the most money" isn't the algorithm that everyone wants.
  - card_zero 11mo ago
    The idea is that if venues can sell tickets at higher prices, to the rich or silly (via resellers or not), you get more venues and more acts, even at the low end where tickets are cheap, because it's bigger business.
  - WalterBright 11mo ago
    Nobody wants an algorithm that leaves them without a ticket, and that includes your proposals. > the people with the most money That's not the algorithm employed. The algorithm is "the people who are willing to outbid the others". That is quite different. Besides, with a lottery you won't know if you got the ticket until the last minute. How are you going to make plans with your sweetie, then? Or are traveling from out of town?
    - BobaFloutist 11mo ago
      The lottery can happen an arbitrary amount of time before the actual event.
  - nickpp 11mo ago
    During communist years here in Eastern Europe, we got to experience the "knowing people in the Nomenklatura and Party" resource allocation algorithm. It was obvious to us that the "people with most money" algorithm was vastly superior since it made people work harder to get those money, thus enhancing the society. Also, the extra cash strongly incentivized and funded people to create more of the scarce resource. The other algorithms failed to incentivize to such a degree that in the end we were starving and freezing because nobody wanted to work to create food, heat or any other products and services anymore.
- codedokode 11mo ago
  In this case you can have concerts 2 or 3 days in a row.

WalterBright 11mo ago

> There are plenty of cases where the seller (artist, venue, etc) want to keep prices low to allow a wider audience to attend the show. There are only so many seats in a venue. Suppose there are 1000 seats and 5000 people want tickets. What's your plan on how to allocate them?

RHSeeger 11mo ago
First come first serve, or a lottery, or any number of other algorithms. The point being "the people with the most money" isn't the algorithm that everyone wants.
- card_zero 11mo ago
  The idea is that if venues can sell tickets at higher prices, to the rich or silly (via resellers or not), you get more venues and more acts, even at the low end where tickets are cheap, because it's bigger business.
- WalterBright 11mo ago
  Nobody wants an algorithm that leaves them without a ticket, and that includes your proposals. > the people with the most money That's not the algorithm employed. The algorithm is "the people who are willing to outbid the others". That is quite different. Besides, with a lottery you won't know if you got the ticket until the last minute. How are you going to make plans with your sweetie, then? Or are traveling from out of town?
  - BobaFloutist 11mo ago
    The lottery can happen an arbitrary amount of time before the actual event.
- nickpp 11mo ago
  During communist years here in Eastern Europe, we got to experience the "knowing people in the Nomenklatura and Party" resource allocation algorithm. It was obvious to us that the "people with most money" algorithm was vastly superior since it made people work harder to get those money, thus enhancing the society. Also, the extra cash strongly incentivized and funded people to create more of the scarce resource. The other algorithms failed to incentivize to such a degree that in the end we were starving and freezing because nobody wanted to work to create food, heat or any other products and services anymore.
codedokode 11mo ago
In this case you can have concerts 2 or 3 days in a row.