An economic guide to ticket pricing in the entertainment industry
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.
|Date of creation:||01 Jun 2000|
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- Rosen, Sherwin & Rosenfield, Andrew M, 1997.
Journal of Law and Economics,
University of Chicago Press, vol. 40(2), pages 351-76, October.
- Sherwin Rosen & Andy Rosenfield, 1995. "Ticket Pricing," University of Chicago - George G. Stigler Center for Study of Economy and State 120, Chicago - Center for Study of Economy and State.
- Coase, Ronald H, 1972. "Durability and Monopoly," Journal of Law and Economics, University of Chicago Press, vol. 15(1), pages 143-49, April.
- Walras, L. & Holmes, P., 1980. "The state and the railways," Journal of Public Economics, Elsevier, vol. 13(1), pages 81-100, February.
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