return2ozma@lemmy.world to News@lemmy.world · 3 months agoLive Nation’s CEO thinks concert tickets are “underpriced”www.thefader.comexternal-linkmessage-square74fedilinkarrow-up1374arrow-down17
arrow-up1367arrow-down1external-linkLive Nation’s CEO thinks concert tickets are “underpriced”www.thefader.comreturn2ozma@lemmy.world to News@lemmy.world · 3 months agomessage-square74fedilink
minus-squarewolfpack86@lemmy.worldlinkfedilinkarrow-up4arrow-down1·3 months agoFrom a purely economics standpoint, when scalpers are able to sell at a higher price, yes they are underpriced. But doing so limits access to cultural events to only those that can afford them.
minus-squareHugeNerd@lemmy.calinkfedilinkarrow-up2·3 months ago“Cultural” like the bacterial culture between my toes, maybe.
minus-squarefodor@lemmy.ziplinkfedilinkarrow-up2arrow-down1·3 months agoNot true. Economic models typically assume competition exists. This is a monopoly, so the models don’t actually work here.
From a purely economics standpoint, when scalpers are able to sell at a higher price, yes they are underpriced.
But doing so limits access to cultural events to only those that can afford them.
“Cultural” like the bacterial culture between my toes, maybe.
Not true. Economic models typically assume competition exists. This is a monopoly, so the models don’t actually work here.