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Some Economics of Ticket Resale

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  • Pascal Courty

Abstract

A large number of brokers and scalpers resell a significant fraction of event tickets at substantial markups and they manage to do so despite the fact that promoters and ticketing agencies do not support resell for profits and often attempt to block secondary market. Why can't promoters capture the profits from secondary markets or at least deter brokers from doing so? I present a simple explanation that borrows from the literature on airline ticket pricing and draw parallels with that literature. I review some evidence consistent with this explanation.

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File URL: http://www.aeaweb.org/articles.php?doi=10.1257/089533003765888449
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Bibliographic Info

Article provided by American Economic Association in its journal Journal of Economic Perspectives.

Volume (Year): 17 (2003)
Issue (Month): 2 (Spring)
Pages: 85-97

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Handle: RePEc:aea:jecper:v:17:y:2003:i:2:p:85-97

Note: DOI: 10.1257/089533003765888449
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Cited by:
  1. Liang, Xiaoying & Xie, Lei & Yan, Houmin, 2012. "Bertrand competition with intermediation," Economics Letters, Elsevier, vol. 116(1), pages 112-114.
  2. Pascal Courty & Mario Pagliero, 2009. "The Impact of Price Discrimination on Revenue: Evidence from the Concert Industry," Carlo Alberto Notebooks 105, Collegio Carlo Alberto.
  3. Eichhorn, Christoph & Sahm, Marco, 2010. "Why were FIFA World Cup tickets so cheap? Monopoly pricing, demand quality and two-sided markets," Journal of Economic Psychology, Elsevier, vol. 31(2), pages 212-217, April.
  4. Connolly, Marie & Krueger, Alan B., 2006. "Rockonomics: The Economics of Popular Music," Handbook of the Economics of Art and Culture, Elsevier.
  5. Humphreys, Brad R. & Soebbing, Brian P., 2012. "A test of monopoly price dispersion under demand uncertainty," Economics Letters, Elsevier, vol. 114(3), pages 304-307.
  6. Pascal Courty, 2005. "Buying Frenzies," Economics Working Papers ECO2005/27, European University Institute.
  7. Ting Liu & Pasquale Schiraldi, 2012. "Buying frenzies in durable-goods markets," Department of Economics Working Papers 12-07, Stony Brook University, Department of Economics.
  8. Dennis Halcoussis & Timothy Mathews, 2007. "eBay auctions for Third Eye Blind concert tickets," Journal of Cultural Economics, Springer, vol. 31(1), pages 65-78, March.
  9. Julia Hiscock & David E. Hojman, 2004. "Where Have All the Flowers Gone? Coase Theorem Failures in English Summer Cultural Events: The Case of Sidmouth International Festival," Research Papers 200406, University of Liverpool Management School.
  10. Melissa Boyle & Lesley Chiou, 2009. "Broadway productions and the value of a Tony Award," Journal of Cultural Economics, Springer, vol. 33(1), pages 49-68, February.
  11. Drayer, Joris & Rascher, Daniel A. & McEvoy, Chad D., 2012. "An examination of underlying consumer demand and sport pricing using secondary market data," Sport Management Review, Elsevier, vol. 15(4), pages 448-460.
  12. Andrew Sweeting, 2008. "Equilibrium Price Dynamics in Perishable Goods Markets: The Case of Secondary Markets for Major League Baseball Tickets," NBER Working Papers 14505, National Bureau of Economic Research, Inc.

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