2 thoughts on “Restricting ticket resale is economic illiteracy”

  1. Posted 13/08/2018 at 17:26 | Permalink

    i think this is confusing two issues. One is the statutory regulation of resale which is clearly wrong. The other is private entities deciding that resale at a profit should not available for specific events. There may be all sorts of reasons why promoters, artists and sports teams wish to give people who put a high value on money but a low value on time an opportunity to buy more tickets than might be possible if the tickets were only sold at market value. There are all sorts of ways this can be done (producers banning resale, requiring buyers to bring the credit cards with which tickets were bought, using moral pressure etc). But to argue that the market participants themselves should only have money values in the utility function is not good economics. The iea led to the banning of resale price maintenance and it was mistaken then.

  2. Posted 15/08/2018 at 12:18 | Permalink

    I don’t understand why the government body insists on stirring in on this subject of ticket scalping. Perhaps it is the Big They’s madness of trying to control everything. Anyway, I have long thought that far from trying to control scalping like it was some kind of drug, we should have a Scalpers Auction right at the beginning. If tickets are worth $500.00 a scalper will probably pay $300-$400 at auction. These events might actually make some money and a fair price would easily be established from the information. Personally, I want no part of this the insane system currently used to sell tickets. If I could have someone promptly and politely deliver me a set of tickets at a competitive price I would go much more often.

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