Ticketmaster still sucks. Just sayin’.
Apparently posts like this are useless, and opinions like that are usually wrong. (At least, that’s what I was told.)
My opinion is usually useless unless it’s regarding computer science.
No no, it was your post that was apparently useless. That opinion is usually wrong. (Again, so I’ve heard).
I knew a ticket seller working for a ticket trader. The trader somehow acquired the tickets and then had these guys stand outside of the venues selling them. Apparently the cops were bought by the agency. One of his regular customers to Maple Leaf games was Doug Gilmour. Imagine why a guy like that would buy tickets this way.
There is no such thing as an “outrageous” price. There is no “right” or “fair” or whatever price. There is only the market price, which is always the exchange ratio between a supply of units of money and a supply of a unit of a good.
But according to you Austrians we do not presently live in a free-market. So presumably is is completely possible for non-market (and therefore outragous) prices to exist. Ticket-master might well be one of those situations no?
Impossible. “Ticketmaster is no master of anything. It obeys market forces just as everybody else.”
So are you saying that we do live in a free-market? What about all the regulations that raise the bar to entry into the marketplace? Would they not alter the market price and therefore divert it away from the price that would otherwise occur?
I wasn’t saying anything. That’s just what DD5 told everyone earlier in this thread. Follow the link.
I did follow the link. And presumably you provided the link because you agreed with what it said.
Nope. Didn’t say that. Just showing where he at least somewhat answered the question you were asking.
So do you agree with what was said?
Well, obviously you can’t disagree with something like “The law of supply and demand applies for tickets as well no matter who sells them”, but at the same time that doesn’t mean there aren’t unnatural distortions either. But that’s an issue you raised.
I thought my position in this was shown in the discussion I had.
Yet you still have not answered my question, and nothing in the thread so far has addressed the issue I bought up. So why are you being deliberately obtuse? I would like a productive conversation but you are making it incredibly difficult.
“actually selling tickets way below their market value, which is why you have sellouts in a matter of minutes or hours.”
But, government has distored the money…you have huge corporations buying massive amounts of high priced tickets. Thos corporations would not be buying those tickets if the government didn’t give them huge benefits that lead to them making huge amounts of money only because of government assistance.
Without that government help, I don’t know if corporations would be so free with their money, like spending huge amounts at ticketmaster and renting out booths in stadiums.
If the government fixed the prices of tickets then you would be correct, in which case the “price” no longer really functions as a price. However, this is not the case. The price of the ticket is entirely detemined by the total available stock of tickets and the demand for them.
Of course, government intervention alters the entire structure of production and its corrolary, the price structure, by diverting resources from productive to less productive activity. But this is an entirely different matter. That government alters the state of the market relative to what it would have been absent the intervention does not in any way invalidate the laws of supply and demand. So you could say for example that absent government intervention, there would be more shows, thus lowering the average price of a ticket, but whatever the given stock of tickets is, it will always be the demand for it that will determine the price.
DD%, what I’m trying to find out is this:
is there any government intervention that lead to ticketmaster being in such a dominating position?
Did government intervention help them secure and have a monopoly on being the ticket seller for so many GOVERNMENT FACILITIES and STADIUMS?