Wednesday, January 30, 2008

An economist learns a lesson?

Steve Levitt relates a fascinating account of an economist's foray into the secondary Hannah Montana ticket market. It's a great read and presents an interesting dilemma and an important lesson how much context matters for determining how much individuals value goods and services. The comments are also pretty interesting. I recommend reading them as well.

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the most interesting part about this story is how a fathers love for his daughter is determined by his ability to procure tickets to a hannah montana concert, i hope my family interactions achieve a level of care that is not based on such a superficial level
Maybe having kids sends your critical faculties for a spin, but the $800-something potential profit calculated early in the comments could buy most any daughter's forgiveness for forgoing prime seats.
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Everything is very open with a very clear description of the
challenges. It was truly informative. Your site
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