How Much Would You Pay For Tigers’ Tickets?
The concept of supply and demand is hitting the box office – for two Major League Baseball teams.
According to stltoday.com, the St. Louis Cardinals and San Francisco Giants have implemented what they call “dynamic pricing” – the cost of the ticket depends on the day of the week, what team is the opponent, and even what sort of giveaway there is.
Sound crazy? You’re already doing it if you choose to go to a movie in the afternoon as opposed to the evening. And your local power company is probably doing it as well, which is why you should run your appliances at night.
Supply and demand: a concept that’s Economics 101, and one that we may see implemented more in the near future.