Tuesday, October 23, 2007

Markets in Everything

Consider two commodities:

A. The value of seeing the Red Sox in the World Series
B. The value of seeing the Red Sox win their first world series since 1918.

Since all tickets are sold, and there is a thick secondary market, we can be reasonably certain that the difference between B and A is the premium of novelty.

An article from the Globe, with more info, and some prices.

(Nod to Tofe, who never has to pay for it)
(And, props to TC, for the "MiE" title. I have credited it before, and from now on will just assume everyone knows where it comes from)