Now that the New York Mets are in baseballs World Series for the first time in 15
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Now that the New York Mets are in baseball’s World Series for the first time in 15 years, fans who don’t have a ticket will pay a hefty $1,667.82 to get one. That’s the average asking price for a resold ticket, which is the highest since World Series price-tracking started in 2010.
Why is a $1,667.82 ticket price similar to “price gouging”? Is the high price an example of the market price method of allocating scarce resources? Is the market for tickets efficient? Is it fair?
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ANSWER The high price of 166782 for a resold ticket to the World Series particularly if it is significantly above the face value can be likened to pri...View the full answer
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