EconTalk Russ Roberts on Ticket Prices and Scalping
Jul 16, 2007
A field visit to a ballpark sparks conversations about ticket resale, pricing dynamics, and why people view scalping as wrong. Stories and street interviews show how last-minute markets, online platforms, and professional ticket sellers shape prices. The episode also explores venue pricing choices, enforcement of local scalping laws, and surprising markups at small events.
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Why Reselling Tickets Is Economically Efficient
- Resale of sold-out event tickets reallocates them to those who value them most.
- Russ Roberts notes economists favour resale because voluntary trades (seller and buyer both benefit) reveal true willingness to pay for scarce All-Star Game seats.
Les Mis Last Minute Bargain Turned Memorable Night
- Russ recounts buying two student-priced Les Mis tickets moments before curtain for $120 when face value was about $8.
- He and his wife raced in with luggage and later learned the seller was a student who likely enjoyed a nice dinner from the sale.
Stranger Gave Two Tickets To A Father And Son
- Russ describes getting two free Cardinals tickets from a stranger who handed them over saying "Enjoy."
- He and his five-year-old son used the unexpected gift and had a memorable game experience.