"Bru-u-u-uce": The Simple Economics of Mob Goods
AbstractThis paper provides a pure economic rationale for chronic excess demand for tickets to events like rock concerts. The model focuses on 'mob goods,' which are consumed jointly with crowd reaction, or 'noise.' Whereas the primary commodity is provided by the seller, the joint product is provided collectively by buyers. If propensities to make noise are inversely correlated with reservation prices and a capacity constraint applies, excess demand (queuing) is a necessary condition for profit maximization. One important implication is that antiscalping laws may be welfare-increasing. The paper explores other applications in professional sports, restaurants, and on-stage theatre. Copyright 1996 by Kluwer Academic Publishers
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Bibliographic InfoArticle provided by Springer in its journal Public Choice.
Volume (Year): 89 (1996)
Issue (Month): 1-2 (October)
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Web page: http://www.springerlink.com/link.asp?id=100332
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- Büch, Martin-Peter & Maennig, Wolfgang & Schulke, Hans-Jürgen (ed.), 2012. "Sport und Sportgroßveranstaltungen in Europa - zwischen Zentralstaat und Regionen," Edition HWWI, Hamburg Institute of International Economics (HWWI), volume 4, number 4.
- Helmut Dietl & Tobias Duschl, 2009.
"The Organization of Professional Sports Leagues: A Comparison of European and North-American Leagues from the Perspective of Platform Organization,"
0119, University of Zurich, Institute for Strategy and Business Economics (ISU).
- Dietl, Helmut & Duschl, Tobias, 2012. "The organization of professional sports leagues: A comparison of European and North-American leagues from the perspective of platform organization," Edition HWWI: Chapters, in: Sport und Sportgroßveranstaltungen in Europa - zwischen Zentralstaat und Regionen, pages 111-126 Hamburg Institute of International Economics (HWWI).
- Helmut Dietl & Tobias Duschl, 2009. "The Organization of Professional Sports Leagues: A Comparison of European and North-American Leagues from the Perspective of Platform Organization," Working Papers 0034, University of Zurich, Center for Research in Sports Administration (CRSA).
- Phillip Leslie & Alan Sorensen, 2009. "The Welfare Effects of Ticket Resale," NBER Working Papers 15476, National Bureau of Economic Research, Inc.
- Busch, Lutz-Alexander & Curry, Philip A., 2011. "Ticket pricing and the impression of excess demand," Economics Letters, Elsevier, vol. 111(1), pages 40-42, April.
- Henk Folmer & Auke Leen, 2013. "Why do successful restaurants not raise their prices?," Letters in Spatial and Resource Sciences, Springer, vol. 6(2), pages 81-90, July.
- Nick Vikander, 2011. "Capacity Constraints and Beliefs about Demand," Tinbergen Institute Discussion Papers 11-015/1, Tinbergen Institute.
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