Rus Articles Journal


Some market hitches have unfairly bad reputation.

Tickets for sports meets and concerts are sometimes resold at the prices above initial: similar market transactions are called as speculation. For example, the ticket for the football match of popular teams bought for 2000 rub can be resold for 3000 or 4000 rub, and sometimes more expensively. The press quite often accuses speculators that they peel buyers, appointing transcendental prices . It turns out that in representation of some people speculation and extortion are words synonyms.

But whether really speculation - the inadmissible evil? In - the first, we have to note that resale is the voluntary, but not compulsory transaction. It follows from this that both the seller, and the buyer benefit from an exchange, otherwise it would not occur.

The seller can appreciate 2000 rub. higher to look at opportunities game, and the buyer, on the contrary, can estimate an opportunity to look at game higher than 2 or even 20 thousand rubles. There are no losers or the victims: both the seller, and the buyer - both benefit from the transaction.

Speculative the market just redistributes assets (tickets for game) between those who appreciate them below, and those who appreciate them above. Whether speculation causes damage to other parties - in particular, to sponsors of competition or a concert? If sponsors suffered a loss, it occurred because they originally quoted on tickets the price below equilibrium level.

As a result of it they suffered economic losses in the form of the missed benefit, that is got less profits, than they could receive otherwise. But they caused this damage to themselves, having quoted the wrong price. This their mistake is not connected in any way with the fact that the part of tickets was resold at higher price later.

And how about the audience? Whether speculation of decline in quality of audience causes? No! People who wanted to look at game most - generally those who most of all are interested in game and are an expert in it will pay the high speculative price. Also athletes and actors benefit from speculation in tickets: they will address more understanding and interested audience.

So whether speculation in tickets is undesirable? From the economic point of view - no. Both seller, and buyer speculative the ticket benefit from the transaction, and more understanding and interested audience is as a result formed. Sponsors of game or a concert, perhaps, get smaller profit, but it occurs on their own fault - from - for their wrong assessment of the equilibrium price.]