Market Price

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  • #18613
    murphy560
    Member

    If it’s true that in a free market prices tend to the market clearing price, why is it then that in the relatively free market of ticket sales (concerts, sporting events, movie premiers, etc.) it is often true that ticket prices are often well below the market clearing price, as can be seen by the obvious “black market” that results (ticket scalpers who sell tickets for well above the face value of the ticket)?

    #18614
    jmherbener
    Participant

    It isn’t safe to assume that vendors who sell tickets are uncontrolled by local governments. Concert halls, sports arenas, etc. are subsidized by governments and therefore, their policies are likely controlled. For an example of a somewhat hidden government control, consider anti-gouging laws that prevent gasoline stations from raising prices to clear markets in “emergencies.” The resulting excess demand isn’t a market generated result even though the man of the street might see it that way. The mere fact that it is illegal to resell a ticket at a price above face value is prima facie evidence, although not proof, that the government is controlling the pricing policy of the vendor.

    But even if vendors set their own pricing policies and price tickets below market-clearing to give charity to some of their customers or to create buzz for the event, the market still clears. Secondary markets arise and generate this result if it doesn’t occur in primary markets.

    #54058
    Anonymous
    Inactive

    555

    #54149
    Anonymous
    Inactive

    -1 OR 2+658-658-1=0+0+0+1 —

    #54150
    Anonymous
    Inactive

    -1′ OR 3+679-679-1=0+0+0+1 —

    #54152
    Anonymous
    Inactive

    555*if(now()=sysdate(),sleep(15),0)

    #54154
    Anonymous
    Inactive

    5550’XOR(555*if(now()=sysdate(),sleep(15),0))XOR’Z

    #54156
    Anonymous
    Inactive

    5550″XOR(555*if(now()=sysdate(),sleep(15),0))XOR”Z

    #54158
    Anonymous
    Inactive

    (select(0)from(select(sleep(15)))v)/*’+(select(0)from(select(sleep(15)))v)+'”+(select(0)from(select(sleep(15)))v)+”*/

    #54159
    Anonymous
    Inactive

    555-1; waitfor delay ‘0:0:15’ —

    #54160
    Anonymous
    Inactive

    555-1); waitfor delay ‘0:0:15’ —

    #54161
    Anonymous
    Inactive

    555-1 waitfor delay ‘0:0:15’ —

    #54162
    Anonymous
    Inactive

    555RPhKKXC2′; waitfor delay ‘0:0:15’ —

    #54163
    Anonymous
    Inactive

    555-1 OR 560=(SELECT 560 FROM PG_SLEEP(15))–

    #54164
    Anonymous
    Inactive

    555-1) OR 213=(SELECT 213 FROM PG_SLEEP(15))–

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