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eBay auctions for Third Eye Blind concert tickets

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  • Dennis Halcoussis

    ()

  • Timothy Mathews

    ()

Abstract

The band Third Eye Blind recently completed a tour, selling tickets exclusively on eBay. Many tickets were bundled with either VIP passes or autographed posters. These data are used to measure variations in price across different markets, as well as the premiums paid for different ticket types. Auctioning the tickets allows the seller to practice Third Degree Price Discrimination and bundling, without having to determine prices in each market and for each different bundle. We find: tickets bundled with VIP passes command a substantial positive premium; tickets bundled with autographed posters command a small negative premium; different prices emerge in different geographic markets; and auction prices are positively related to the fixed price at which tickets could be purchased by way of Buy-it-Now. Copyright Springer Science+Business Media, LLC 2007

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File URL: http://hdl.handle.net/10.1007/s10824-006-9028-1
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Bibliographic Info

Article provided by Springer in its journal Journal of Cultural Economics.

Volume (Year): 31 (2007)
Issue (Month): 1 (March)
Pages: 65-78

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Handle: RePEc:kap:jculte:v:31:y:2007:i:1:p:65-78

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Web page: http://www.springerlink.com/link.asp?id=100284

Related research

Keywords: Auctions ; Cultural economics; D44; Z10;

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References

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  1. Ashenfelter, O. & Genesove, D., 1992. "Testing for Price Anomalies in real Estate Auctions," Papers, Princeton, Department of Economics - Financial Research Center 128, Princeton, Department of Economics - Financial Research Center.
  2. Young Han Lee & Ulrike Malmendier, 2007. "The Bidder's Curse," NBER Working Papers 13699, National Bureau of Economic Research, Inc.
  3. Cynthia G. McDonald & V. Carlos Slawson, 2002. "Reputation in An Internet Auction Market," Economic Inquiry, Western Economic Association International, Western Economic Association International, vol. 40(4), pages 633-650, October.
  4. Alvin E. Roth & Axel Ockenfels, . "Last-Minute Bidding and the Rules for Ending Second-Price Auctions: Evidence from eBay and Amazon Auctions on the Internet," Papers on Strategic Interaction 2002-32, Max Planck Institute of Economics, Strategic Interaction Group.
  5. Pascal Courty, 2003. "Some Economics of Ticket Resale," Journal of Economic Perspectives, American Economic Association, vol. 17(2), pages 85-97, Spring.
  6. Ashenfelter, Orley, 1989. "How Auctions Work for Wine and Art," Journal of Economic Perspectives, American Economic Association, vol. 3(3), pages 23-36, Summer.
  7. McAfee R. Preston & Vincent Daniel, 1993. "The Declining Price Anomaly," Journal of Economic Theory, Elsevier, vol. 60(1), pages 191-212, June.
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Cited by:
  1. Ulrike Malmendier & Young Han Lee, 2011. "The Bidder's Curse," American Economic Review, American Economic Association, vol. 101(2), pages 749-87, April.
  2. Liu, Kang Ernest & Shiu, Ji-Liang & Sun, Chia-Hung, 2013. "How different are consumers in Internet auction markets? Evidence from Japan and Taiwan," Japan and the World Economy, Elsevier, Elsevier, vol. 28(C), pages 1-12.

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