Ticket Prices

In class we discussed that ticket prices for concerts were a bit outrageous, and I agree that they are. However, as long as there are people willing to pay $200 to go see Lady Gaga, or $500 to see the Rolling Stones, then they will continue to be high. It would be understandable if these acts weren't selling out their shows, but they always are and as long as the willingness to pay that much is there, then the market will continue to dictate the prices to be that high. It's the same as any other commodity, like shoes. As long as people are willing to pay $150 for something that cost $10 to make then they'll continue to be sold for that much