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How to sell tickets fairly

barnabas.me

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Re: How to sell tickets fairly

#201

Post by Waterluvian »

judge2020 wrote: post #120
Waterluvian wrote: post #15

It’s a trivially solvable problem to engineers because it’s not an engineering problem. They want all the hype and rush. It’s become a piece of culture to “wait in line.” I once had a company put me in an async queue for months to wait for my brand new gadget. I wish Sony had done the same with the PS5.

> I once had a company put me in an async queue for months to wait for my brand new gadget. I wish Sony had done the same with the PS5. https://www.theverge.com/2022/4/21/23020823/sony-direct-play...

90 mins after the article was posted it was updated with “sold out”. Was this not a real long-term queue?

Re: How to sell tickets fairly

#202

Post by mrozbarry »

This isn't to be argumentative, but life isn't fair. This article discusses how to make buying a Taylor Swift ticket fair, meanwhile there are much larger social issues, like homelessness. I'm not a concert guy, and all the more power to those who do enjoy it, but it's absolutely a luxury to those that want to go.

Re: How to sell tickets fairly

#203

Post by alexchamberlain »

mrozbarry wrote: post #202

This isn't to be argumentative, but life isn't fair. This article discusses how to make buying a Taylor Swift ticket fair, meanwhile there are much larger social issues, like homelessness. I'm not a concert guy, and all the more power to those who do enjoy it, but it's absolutely a luxury to those that want to go.

Is the algorithm proposed fair in that sense? I'd argue it isn't anyway.

Re: How to sell tickets fairly

#204

Post by pclmulqdq »

somehnacct3757 wrote: post #195
pclmulqdq wrote: post #92

Earlier quoted context omitted.

Wait, they didn't choose to buy a ticket at the price the scalpers got (plus epsilon), so why would they pay more when the scalpers come around with a ticket?

Cuz the auction ran out of tickets so the price starts to climb as scalpers monetize FOMO. Regular purchasers don't know what the scalpers think X is for this particular concert. Even if you knew X, all you could do is try to buy a ticket right before the remaining quantity reaches X which guarantees you paid more than the scalper, but maybe not more than the scalper's resell price. X is the moment scalpers buy up th…

Regular purchasers would learn to not try to game the auction like that any more. In the scenario you described, they are only losing out on tickets because they are getting greedy and trying to buy them for less than they think those tickets are worth.

The point of auctions is that the right strategy is to bid to your price, not to try to guess what other people think the price should be. That's why they work.

Re: How to sell tickets fairly

#206

Post by leni536 »

naniwaduni wrote: post #58
adam_arthur wrote: post #5

I don’t understand at all why prices aren’t raised in these severe demand/supply imbalance situations. Same applies to PS5 etc There wouldn’t be a shortage at all if it were priced appropriately. And scalpers just end up capturing that value anyway

Scalpers provide them the service of absorbing demand risk and having someone to blame for the gap between perceived and market value. (It doesn't have to be scalpers; see also Ticketmaster. The point is that it's valuable to farm this out to third parties that everyone can agree to hate on.)

So the obvious arbitrage is to scalp their own tickets. Capture both the gap and save face, just don't let anyone know. /s

Re: How to sell tickets fairly

#207

Post by andreysolsty »

buro9 wrote: post #167
mahkeiro wrote: post #162

Earlier quoted context omitted.

If you are sure to sell out you want to invest in such a system as this is the best way to extract maximum money from your fans. You still have a chance to sell out in the first days for multiple time the usual price. This system is not used as it will be seen very negatively by fans.

My point on artists is that maximising value extraction isn't their priority. I worked in the industry for almost a decade, had 2 record labels, and signed a number of bands that became famous (for some definition of that) as well as worked with bands that were famous (for any definition of that)... so I have some experience here even though that experience has aged a bit. Artists are balancing revenue now, with futu…

Dice is fantastic. Another thing they do is allow you to join a waiting list for sold out events. People who have bought tickets and want to return them can return them to the waiting list (and people on the waiting list will get a notification offering them a few hours to purchase the newly returned ticket). If someone on the list buys it they are refunded.

Re: How to sell tickets fairly

#208

Post by maxerickson »

buro9 wrote: post #167
mahkeiro wrote: post #162

Earlier quoted context omitted.

If you are sure to sell out you want to invest in such a system as this is the best way to extract maximum money from your fans. You still have a chance to sell out in the first days for multiple time the usual price. This system is not used as it will be seen very negatively by fans.

My point on artists is that maximising value extraction isn't their priority. I worked in the industry for almost a decade, had 2 record labels, and signed a number of bands that became famous (for some definition of that) as well as worked with bands that were famous (for any definition of that)... so I have some experience here even though that experience has aged a bit. Artists are balancing revenue now, with futu…

Ticketmaster is in the news because they had trouble with sales for the upcoming Taylor Swift tour. I have trouble believing that they are worried about changing venues (I expect they chose the largest available in every case) or selling the shows out.

And the number of shows is a decision that is taking into account a lot of factors that aren't reaching as many fans as possible. That's fine, no artist owes their fans anything, but the goal rather obviously isn't to maximize attendance opportunities.

Re: How to sell tickets fairly

#209

Post by thrtythreeforty »

pclmulqdq wrote: post #94
mosseater wrote: post #47

An NFT solution to ticketing seems like it would be trivial given how NFTs operate already. One ticket could be verifiably owned by one person. If that person wanted to resell the ticket, there could be restrictions on how much they could sell it for. If bots can't make a profit there's no use in buying out all the tickets. It would also decentralize the space. Sure you need a marketplace for the NFT tickets, but tha…

NFTs actually can't algorithmically restrict transfer prices or algorithmically take fees. The fee taking that happens today is done by an exchange as a courtesy to the "artist." This is one of the limitations of the NFT model.

I was under the impression you can run arbitrary code in the blockchain?
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