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The paradox of inelastic sports pricing

✍ Scribed by Philip K. Porter

Publisher: John Wiley and Sons
Year: 2007
Tongue: English
Weight: 97 KB
Volume: 28
Category: Article
ISSN: 0143-6570
DOI: 10.1002/mde.1301

No coin nor oath required. For personal study only.

✦ Synopsis

Abstract

Rodney Fort's (2004) article in Managerial and Decision Economics attempts to explain the recurrent phenomenon of inelastic ticket pricing in professional sports. In his explanation, Fort mistakenly substitutes the marginal revenue generated by the acquisition of talent for the marginal revenue generated by lowering the gate ticket price. This article corrects the mistake, pointing out that inelastic ticket pricing is still inconsistent with profit maximization. In addition, it is demonstrated that the marginal revenue generated by additional talent cannot be negative. Copyright © 2007 John Wiley & Sons, Ltd.

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