It sounds like a pretty good means of deterring rent seeking. First, now
that waiting for 12 hours does not guarantee getting first shot at tickets,
the incentive to wait 12 hours is reduced. Second, I would bet that the
majority of those waiting in line for 12 hours are agents of scalpers.
Random drawings limit their ability to get the choicest seats and resell
them. Not that this is necessarily good or efficient, but it does minimize
rent seeking.
Mark Steckbeck
On 1/24/01 8:47 PM, "Daljit Dhadwal" <[EMAIL PROTECTED]> wrote:
> At a recent concert for U2, Ticket Master limited each person in line to
> purchase up to 5 tickets. The strange part (I thought) was the line was
> randomized. About an hour before the tickets went on sale people were
> given random numbers that would determine when they could purchase
> tickets. So, even if you were first in line and you got number 500, you'd
> have to wait. What purpose does this serve?
>
> Daljit Dhadwal
