tag:blogger.com,1999:blog-7169279.post7159143238046651716..comments2023-11-24T03:20:02.361-07:00Comments on Tufte's Economics Classes Blog - A Living Textbook: Ticket Prices for the World SeriesDr. Tuftehttp://www.blogger.com/profile/17397586052171706438noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-7169279.post-501444291098611122013-11-27T19:35:11.935-07:002013-11-27T19:35:11.935-07:00Chad: 50/50
I think the overall tone of this is O...Chad: 50/50<br /><br />I think the overall tone of this is OK, but the economics is creaky in a couple of spots.<br /><br />Perhaps demand is inelastic. But, the way we typically figure this out is compromised by the fact that seat supply is always inelastic. It's hard to tell what's going on with demand if we can't watch supply shifting back and forth.<br /><br />I do think that a Dave Tuftehttps://www.blogger.com/profile/14877686358267438045noreply@blogger.comtag:blogger.com,1999:blog-7169279.post-73977553064398211992013-11-13T16:44:40.277-07:002013-11-13T16:44:40.277-07:00The demand for World Series tickets was and always...The demand for World Series tickets was and always has been inelastic. The only thing that changes with the rising prices for game 6 are the type of people that buy the tickets. At a regular season game you get a wide variety of fans that show up to the ballpark. Due to the lower prices for nose blead seats you see many lower income consumers that still find consumer surplus in buying the Chadhttps://www.blogger.com/profile/03030936959584374977noreply@blogger.comtag:blogger.com,1999:blog-7169279.post-1744875142299362322013-11-07T21:51:05.918-07:002013-11-07T21:51:05.918-07:00Oops. Bob got a 94/100 for poor verb/object agreem...Oops. Bob got a 94/100 for poor verb/object agreement.<br /><br />BTW: the smaller stadium size in baseball does not do anything to make demand inelastic. What it will do is cause equilibrium to be further to the left along the inelastic demand.Dave Tuftehttps://www.blogger.com/profile/14877686358267438045noreply@blogger.comtag:blogger.com,1999:blog-7169279.post-91667166704562022912013-11-07T21:48:42.459-07:002013-11-07T21:48:42.459-07:00This is interesting. I'm not surprised by this...This is interesting. I'm not surprised by this story, but I did miss it at the time.<br /><br />I think the demand for tickets was always inelastic. What's happened now is that it has shifted to the right. Supply has not shifted though, so the quantity demanded is about the same, just at a much higher price.Dave Tuftehttps://www.blogger.com/profile/14877686358267438045noreply@blogger.com