IDEAS home Printed from https://ideas.repec.org/p/ctl/louvre/2000024.html
   My bibliography  Save this paper

An economic guide to ticket pricing in the entertainment industry

Author

Listed:
  • 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.

Suggested Citation

  • Pascal COURTY, 2000. "An economic guide to ticket pricing in the entertainment industry," Discussion Papers (REL - Recherches Economiques de Louvain) 2000024, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
  • Handle: RePEc:ctl:louvre:2000024
    as

    Download full text from publisher

    File URL: http://sites.uclouvain.be/econ/DP/REL/2000024.pdf
    Download Restriction: no

    References listed on IDEAS

    as
    1. Rosen, Sherwin & Rosenfield, Andrew M, 1997. "Ticket Pricing," Journal of Law and Economics, University of Chicago Press, vol. 40(2), pages 351-376, October.
    2. Walras, L. & Holmes, P., 1980. "The state and the railways," Journal of Public Economics, Elsevier, vol. 13(1), pages 81-100, February.
    3. Coase, Ronald H, 1972. "Durability and Monopoly," Journal of Law and Economics, University of Chicago Press, vol. 15(1), pages 143-149, April.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. 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.
    2. Conze, Maximilian & Kramm, Michael, 2013. "The Recommendation Effect in the Hotelling Game - A New Result for an Old Model," Ruhr Economic Papers 460, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
    3. Pascal Courty, 2003. "Some Economics of Ticket Resale," Journal of Economic Perspectives, American Economic Association, vol. 17(2), pages 85-97, Spring.
    4. Jones, Steven L. & Yeoman, John C., 2009. "The promoter's role in ticket pricing: Implications of real options for optimal posted prices and rationing," Journal of Business Research, Elsevier, vol. 62(11), pages 1187-1192, November.
    5. repec:spr:joecth:v:65:y:2018:i:3:d:10.1007_s00199-017-1035-2 is not listed on IDEAS
    6. Aditya Bhave & Eric Budish, 2017. "Primary-Market Auctions for Event Tickets: Eliminating the Rents of 'Bob the Broker'?," NBER Working Papers 23770, National Bureau of Economic Research, Inc.
    7. Jong-Hee Hahn & Jinwoo Kim & Sang-Hyun Kim & Jihong Lee, 2018. "Price discrimination with loss averse consumers," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 65(3), pages 681-728, May.
    8. Vlad Radoias, 2017. "When Price Discrimination Fails – A Principal Agent Problem with Social Influence," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 38(2), pages 212-221, March.
    9. Connolly, Marie & Krueger, Alan B., 2006. "Rockonomics: The Economics of Popular Music," Handbook of the Economics of Art and Culture, Elsevier.
    10. Alexei Alexandrov & Martin A. Lariviere, 2012. "Are Reservations Recommended?," Manufacturing & Service Operations Management, INFORMS, vol. 14(2), pages 218-230, April.
    11. Maximilian Conze & Michael Kramm, 2013. "The Recommendation Effect in the Hotelling Game - A New Result for an Old Model," Ruhr Economic Papers 0460, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen.
    12. Michael Rushton, 2011. "Pricing the Arts," Chapters,in: A Handbook of Cultural Economics, Second Edition, chapter 49 Edward Elgar Publishing.
    13. repec:eee:joreco:v:39:y:2017:i:c:p:190-200 is not listed on IDEAS
    14. Courty, Pascal & Pagliero, Mario, 2012. "The Pricing of Art and the Art of Pricing: Pricing Styles in the Concert Industry," CEPR Discussion Papers 8967, C.E.P.R. Discussion Papers.
    15. repec:zbw:rwirep:0460 is not listed on IDEAS
    16. Bakker, Gerben, 2012. "Sunk costs and the dynamics of creative industries," Economic History Working Papers 49081, London School of Economics and Political Science, Department of Economic History.
    17. Marie Connolly & Alan Krueger, 2005. "Rockonomics: The Economics of Popular Music," Working Papers 878, Princeton University, Department of Economics, Industrial Relations Section..

    More about this item

    Keywords

    Ticket Markets; Price Discrimination; Price Compression;

    JEL classification:

    • D4 - Microeconomics - - Market Structure, Pricing, and Design
    • L82 - Industrial Organization - - Industry Studies: Services - - - Entertainment; Media
    • Z1 - Other Special Topics - - Cultural Economics

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ctl:louvre:2000024. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sebastien SCHILLINGS). General contact details of provider: http://edirc.repec.org/data/iruclbe.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.