Consider a sports team that has made the playoffs for the first time in decades. What is the FAIREST way for them to sell tickets for their playoff games
Max dollar over what time period?If the team is looking forward? First come first served.
If the team is out to make a max dollars? Highest Bidder.
WEll that's a variation of First Come First Served isn't it? Or do you see it more as a mixture of FCFS with Highest bidder since season tickets are expensive?#4 - Offer them first, to their season ticket holders.
Right but the question is that the TEAM needs to know what the FANS think is fairest so as to be able to assess which choice maximizes profit from ticket sales over an extended period.I think the fairest thing to do is let those who own the team distribute the tickets as they see fit. It is, after all, their team.
Economics is the study of trade an commerce in a society.Isn't "economic fairness" just another name for communism?
hmm so then why do so many sports teams have to do "promotions" like "bat night" to keep their numbers up?I think the reality is that the teams know the fans will grouch, but will ultimately come back and buy tickets again. Unless of course the team continues to suck. So, in the end, it doesn't matter what fans think. There will be more fans, there will be more dollars from other fans if you piss these off.
No, I am saying that when people seek to use political power to enforce economic "fairness" that that is a stop on the road to communism (the dictatorship of the proletariat).Economics is the study of trade an commerce in a society.
So you are saying that when trade and commerce are perceived as 'fair' it is communism?
Be careful,, there's a commie hiding inside your computer watching you....
This is a Behavioural Econ test. it shows how people identify what they consider "econometrically fair" without a politicized context.I have not heard of an auction for tickets by a team. Are not the prices set and any tickets sold to highest bidder sold on the resell market and not by the team?
So then enforcing contract obligations and property rights - according to you - is the road to communism???!!!??No, I am saying that when people seek to use political power to enforce economic "fairness" that that is a stop on the road to communism (the dictatorship of the proletariat).