The point of scalping is to find someone who wants a ticket more than the person who presently has it. Whenever two different prices exist in a market, arbitrage opportunities (buy and then sell at a higher price) are there. Professional scalpers buy up tickets when they are first offered to the public, while some buy them on the street the night of the event. They can sell any ticket, even those in short supply, at some price. When many people want to go to an event that has a limited supply of tickets, the scalping price can be quite high. Go online and find scalping agencies like StubHub and SeatGeek. See if you can find an event for which the scalping price is much higher than the original price. What determines whether the event is worth the higher price? 

It is argued that scalping is efficient. Explain that argument. Others ask how could it be efficient “if only rich people can afford to go to most games?” Do you agree? Why or why not?