Advance Booking - early(Dana 1999 or offers a menu of...

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Advance Booking The second de. ning characteristic of ticket pricing is advance booking, which pleases the consumers who want to be able to plan in advance and to know for certain which seat they will get. Thus, the existence of advance booking triggers some consumers to buy in advance, shifting the competition for seats before the event date (DeGraba, 1995). This insight introduces the issue of the optimal timing of ticket sales for the promoter, including the possibility of intertemporal price discrimination where the ticketing agency gives discounts to consumers who buy
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Unformatted text preview: early (Dana, 1999) or offers a menu of options with varying upfront prices and levels of refund in the event of cancellation (Courty and Li, 2000). The opportunities for intertemporal price discrimination will largely depend on the ticket agency’s ability to prevent resale. When resale is possible, advance booking opens the possibility for third parties to buy tickets in advance and to hold them until the event date, with the intent to resell them close to the event date....
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