Ticket Resale

Alan Sorensen and Phillip Leslie
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Alan Sorensen: Stanford University

No 527, 2007 Meeting Papers from Society for Economic Dynamics

Abstract: This paper analyzes the welfare effects of resale using detailed data on primary and secondary market sales of rock concert tickets. We have detailed sales data from Ticketmaster (the primary market) for several hundred rock concerts from the summer of 2004, and we have matched those data with transactions on eBay and StubHub (the secondary market). We develop a structural model in which both consumers and brokers optimally buy and sell in the primary and secondary markets, given rational expectations of what each ticket's resale value will be. Among other things, the estimated parameters allow us to quantify the impact of transaction costs on consumer welfare---i.e., if the costs of transacting in the secondary market were exogenously reduced, how much more efficient would the ultimate allocation of tickets be?

Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:red:sed007:527

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