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Marenne M

Super Bowl XLVIII Pricing: A Lesson In Demand Elasticity - Forbes - 1 views

www.forbes.com/...-a-lesson-in-demand-elasticity

Price elasticity

shared by Marenne M on 27 Sep 13 - No Cached
  • club-level seats in the mezzanine of MetLife Stadium are likely to cost about $2,600, as compared to the $1,250 charged for the top tickets at last year’s Super Bowl in New Orleans.
  • next-cheapest set of tickets in the lower bowl of MetLife would cost about $1,500, up from the $950 charged for second-tier seats sold in New Orleans.
  • professional sports teams typically price their inventory in the inelastic portion of their demand functions.
  • ...6 more annotations...
  • eams charge too low a price to maximize ticket revenues
  • maximum attendance
  • omplementary purchases associated with sporting attendance…such as concessions, parking, merchandise.
  • maximizing ‘revenue per seat’ as opposed to just gate revenues
  • onsiderable mark-ups for Super Bowl tickets
  • willingness to spend thousands of dollars above face in some cases merely reflects the uniqueness of the event
  • Jakub B on 27 Sep 13
     
    The author describes inelastic demand taking the Super Bowl as an example of pricing in many other sports.
  • Marenne M on 19 Oct 13
     
    This article describes how many sports events try to keep their prices low, in order to maximize attendance and thereby complementary costs such as food and parking. However, the Superbowl tickets are very expensive, and increasing in price. This is because they want to earn more money purely on ticket sales, and they believe they can make more revenue because the high prices only show how special this event is, which means there is a high demand to meet the high prices.
  • Marenne M on 19 Oct 13
     
    This article describes how many sports events try to keep their prices low, in order to maximize attendance and thereby complementary costs such as food and parking. However, the Superbowl tickets are very expensive, and increasing in price. This is because they want to earn more money purely on ticket sales, and they believe they can make more revenue because the high prices only show how special this event is, which means there is a high demand to meet the high prices.
Aleksi B

BBC Sport - Cristiano Ronaldo: Real Madrid forward agrees new contract - 0 views

www.bbc.co.uk/...24099077

Opportunity Cost contract sport

shared by Aleksi B on 15 Sep 13 - No Cached
  • Aleksi B on 15 Sep 13
     
    Real Madrid CF have reported to give Cristiano Ronaldo a new contract making him the most expensive player in football. Now the question is will the club benefit from all this money being spent on this one player? This this the opportunity cost Real Madrid are taking hoping this will lead them to some football glory 
  • Clemente F on 16 Sep 13
     
    I believe you are right. I never though of applying economic concepts to sports and especial soccer. But you are right, soccer teams are similar to companies now days and some are even in the stock market. They are investing money on Cristiano Ronaldo hoping to get back some glory and therefore money. I find that is horrible to classify a soccer player and therefore a human being as an economic good.
Yassine G

TASS: Sports - Post-Soviet trade bloc members may be exempt from Russia's bill on legio... - 0 views

itar-tass.com/771216

trade bloc russia

shared by Yassine G on 15 Jan 15 - No Cached
  • Yassine G on 15 Jan 15
     
    This article relates trade blocs to athletics. 
Pip Dop

TPP 'too important for compromised finish' - 2 views

www.voxy.co.nz/...205790

tariffs Japan New Zealand quotas government

shared by Pip Dop on 28 Oct 14 - No Cached
  • Pip Dop on 28 Oct 14
     
    The US and Japan are considering closing a deal on dairy industry liberalisation by imposing tariffs on for example skim milk powder and butter. These tariffs, which are supposedly introduced to 'protect Japanese agriculture' make trade impossible, which is in turn hurting countries heavily dependent on the dairy industry, like New Zealand.
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