Ticket Pricing Under Demand Uncertainty

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Ticket Pricing Under Demand Uncertainty

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Courty, Pascal

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Pascal Courty

Abstract

This Paper studies a monopolist selling tickets to consumers who learn new information about their demands over time. The monopolist can sell early to uninformed consumers and/or close to the event date to informed ones, it can ration tickets and allow ticket holders to resell. I show that rationing and intertemporal sales are never optimal. More surprisingly, the monopolist cannot do strictly better by allowing resale despite the fact that consumers are willing to pay more when they can resell tickets. I discuss the implications of the model for the pricing practices observed in ticket markets.

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Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 3443.

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Date of creation: Jul 2002
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Handle: RePEc:cpr:ceprdp:3443

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Article
- Courty, Pascal, 2003. "Ticket Pricing under Demand Uncertainty," Journal of Law & Economics, University of Chicago Press, vol. 46(2), pages 627-52, October.

Find related papers by JEL classification:
D42 - Microeconomics - - Market Structure and Pricing - - - Monopoly
L82 - Industrial Organization - - Industry Studies: Services - - - Entertainment; Media

This paper has been announced in the following NEP Reports:

NEP-ALL-2003-02-18 (All new papers)

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

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. [Downloadable!] (restricted)
Oz Shy & Staffan Ringbom, 2005. "Refunds and Collusion," "Marco Fanno" Working Papers 0001, Dipartimento di Scienze Economiche "Marco Fanno". [Downloadable!]
Justin P. Johnson & David P. Myatt, 2006. "On the Simple Economics of Advertising, Marketing, and Product Design," American Economic Review, American Economic Association, vol. 96(3), pages 756-784, June. [Downloadable!]
Other versions:
- David P. Myatt & Justin P. Johnson, 2004. "On the Simple Economics of Advertising, Marketing, and Product Design," Economics Series Working Papers 185, University of Oxford, Department of Economics. [Downloadable!]
Craig Depken, 2007. "Another look at anti-scalping laws: Theory and evidence," Public Choice, Springer, vol. 130(1), pages 55-77, January. [Downloadable!] (restricted)
Xinyu Hua, 2004. "Strategic Ex-ante Contracts: Rent-Extraction and Opportunity Costs," Econometric Society 2004 North American Summer Meetings 564, Econometric Society. [Downloadable!]
Nocke, Volker & Peitz, Martin, 2008. "Advance-Purchase Discounts as a Price Discrimination Device," CEPR Discussion Papers 6664, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)

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