Wednesday, October 26, 2011

The economics of scalping

Steve Geigerich has a nice piece on the changes in ticket scalping (sorry, brokering) since 2006, the last time the Cardinals were in the World Series. The reason for the change is that it is now legal to sell tickets above face value in Missouri. Those who were formerly ticket scalpers and are now ticket brokers report that legalization has lowered their profits. It has also reduced opportunities for police corruption.