If they’re not then it would be for marketing reasons and not because they are stupid. 90% of people think there is such a thing as a fair price.

Didn’t we already have this discussion with apples at the supermarket?

The basic idea is you can sell the same product for two different prices to two different people, because of timing, quantity, convenience, etc it isn’t exactly the same product.

The logical conclusion is that the music industry should sponsor their own scalpers… it makes sense when you consider they buy their own records.

Exactly. In the case of the apples it was the business using price discrimination to capture more of the consumer surplus. Any business that doesn’t do so is stupid. Therefore concert promoters who don’t have a way to capture the very large consumer surplus left by concert pricing are stupid. They could easily reserve a block of seats for open auction, but choose not to, leaving money on the table, which scampers then cash in. The fools are the promoters, which the use the predictable responses of ‘won’t the government do something!’ and ‘won’t someone think of the children (fans)’

The supplier may want to limit the price of the article, but the market knows its value is higher and will desperately scramble for position at front of the queue, trampling on little old ladies etc. Are the punters responsible for hurting the little old ladies, or is it the supplier?

Its like throwing a handful of coins in front of a bunch of street urchins. It shows you how effective greed is, and its not the cutest and needful kids who pocket the money.

The basic idea is you can sell the same product for two different prices to two different people, because of timing, quantity, convenience, etc it isn’t exactly the same product.

The logical conclusion is that the music industry should sponsor their own scalpers… it makes sense when you consider they buy their own records.