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An economic guide to ticket pricing in the entertainment industry

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Author Info

  • Pascal COURTY

    (London Business School, Department of Economics)

Abstract

This paper reviews the literature on ticket pricing in the entertaniment industry. All along, I try to evaluate whether ticket markets outeomes are consistent with theoretical predictions. Overall, the literature provides a good understanding for observed variations in ticket prices. The literature, however, fails to explain situations where prices do not vary. We have but a poor understanding for why prices often do not vary over the run of a show, why more popular shows do not charge more and why most venues are scaled in just a few sections. I also review the empirical literature of price discrimination in ticket, markets. By contrasting the theoretical and the enipirical literatures, the paper identifies a set of promising directions for future research.

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Bibliographic Info

Paper provided by Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES) in its series Discussion Papers (REL - Recherches Economiques de Louvain) with number 2000024.

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Date of creation: 01 Jun 2000
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Handle: RePEc:ctl:louvre:2000024

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Related research

Keywords: Ticket Markets; Price Discrimination; Price Compression;

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References

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  1. Rosen, Sherwin & Rosenfield, Andrew M, 1997. "Ticket Pricing," Journal of Law and Economics, University of Chicago Press, University of Chicago Press, vol. 40(2), pages 351-76, October.
  2. Coase, Ronald H, 1972. "Durability and Monopoly," Journal of Law and Economics, University of Chicago Press, University of Chicago Press, vol. 15(1), pages 143-49, April.
  3. Walras, L. & Holmes, P., 1980. "The state and the railways," Journal of Public Economics, Elsevier, Elsevier, vol. 13(1), pages 81-100, February.
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Citations

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Cited by:
  1. Gerben Bakker, 2012. "Sunk costs and the dynamics of creative industries," Economic History Working Papers, London School of Economics and Political Science, Department of Economic History 49081, London School of Economics and Political Science, Department of Economic History.
  2. Maximilian Conze & Michael Kramm, 2013. "The Recommendation Effect in the Hotelling Game - A New Result for an Old Model," Ruhr Economic Papers, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen 0460, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen.
  3. 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.
  4. Connolly, Marie & Krueger, Alan B., 2006. "Rockonomics: The Economics of Popular Music," Handbook of the Economics of Art and Culture, Elsevier, Elsevier.

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