Lots of markets (including entry-level labor markets) have more uniform prices than economists customarily suppose. Tickets for sporting events, for example, typically cost the same regardless of the quality of the opponents. (Teams have often been afraid of alienating fans, who it was thought might find it repugnant to pay more for more exciting games.) The Los Angeles Lakers propose to change that: Lakers will have higher ticket prices for seven games in 2008-09.
Hat tip to Steve Leider (who will be on the new economist labor market this year:)
Thursday, September 18, 2008
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