Is Resale Needed in Markets with Refunds? Evidence from College Football Ticket Sales

Drew Vollmer
Additional contact information
Drew Vollmer: U.S. Department of Justice

No 202202, EAG Discussions Papers from Department of Justice, Antitrust Division

Abstract: When is resale valuable? And when can it be replaced with refunds? I study the performance of common reallocation mechanisms in perishable goods markets with demand uncertainty. Using primary and secondary market data on college football ticket sales, I design a structural model to evaluate the performance of resale, partial refunds, and a menu of refund contracts. In the model, consumers anticipate shocks when making initial purchases. After shocks are realized, they participate in an endogenous resale market. I find that refunds are more efficient than resale, but that resale is better for sellers and consumers than not reallocating.

Pages: 78 pages
Date: 2022-02
New Economics Papers: this item is included in nep-com
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.justice.gov/atr/resale-needed-markets- ... ootball-ticket-sales (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:doj:eagpap:202202

Access Statistics for this paper

More papers in EAG Discussions Papers from Department of Justice, Antitrust Division Department of Justice Antitrust Division 450 Fifth Street NW Washington, DC 20530. Contact information at EDIRC.
Bibliographic data for series maintained by Tung Vu ().