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[quote user="z1235"] [quote user="Graham Wright"]Yes, but if it was a regular ticket-seller (i.e. not the Olympics) that might not work, because people would catch on, and potentially many of those who would buy at £30 would hold off for a lower price.[/quote] Ever heard of "last minute deals", "season-end discounts"
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[quote user="Jon Irenicus"]The onus is on your friend to demonstrate that these demand schedules are typical (showing why)[/quote] How would he go about that? Or how would I go about demonstrating that they are not typical? [quote]and furthermore, that the outcome is "bad" (provided alternatives exist that are demonstrably better
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[quote user="DD5"]If the olympic organizers (or whom ever) are so brilliant to know the demand schedule ahead of time , then why did they build all those extra seats in the first place? [/quote] Well, no one knows the demand schedule ahead of time. But you raise a good point. I think a better way of putting it would be: why was that event
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[quote user="Student"] For example, you have a 10,000 seater venue. At £20, you'll sell 8,000 tickets. At £10.01, you'll still sell 8,000 tickets. At £10, you'll sell all 10,000 tickets. Here, you are better off selling at £20 (£160k revenue) than at £10 (£100k revenue), and throwing away
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[quote user="gotlucky"]I can tell you the way the Boston Symphony Orchestra sells tickets. Some seats are priced differently. The most desired seats are priced at $120, and the least desired seats at $30, and then there are seats priced in between. Then, the day of the concert (but only for certain concerts), tickets can be bough last minute
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Nir, Yes, but if it was a regular ticket-seller (i.e. not the Olympics) that might not work, because people would catch on, and potentially many of those who would buy at £30 would hold off for a lower price.
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There are a large number empty seats at Olympic venues (at one point, the army was called in to fill some of them!), and a large number of people eager to fill them but being unable to get tickets, and so I have been involved in many discussions with people about why this is the case. The blame is generally being placed on the corporate sponsors, because
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[quote user="Adam Knott"]For the diagram showing the relationship between the definitions of praxeology, economics, and catallactics, in the Misesian conception: Praxeology: The ascertainment, discovery, or demonstration, of exact laws of human action. Economics (catallactics): The ascertainment, discovery, or demonstration of exact laws of
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Adam, Do you think you could draw a diagram showing the relationship between the definitions of praxeology, economics, catallactics, etc? Maybe one for the Misesian conception and one for the Rothbardian? And another diagram of the relationship between the classes of action to illustrate what Rothbard and Hoppe miss out? I'm having trouble fitting