Suppose That the Resale of Tickets to Professional Football Games

question 41

Essay

Suppose that the resale of tickets to professional football games is illegal in Missouri.Due to the high demand for Chiefs (who play in Kansas City,Missouri)tickets there is a shortage of tickets at the current ticket price.Given that the Chiefs will not raise the price at which they sell the tickets,what would be the result of allowing tickets to be resold in a secondary market at whatever price the market would support? If speculators entered the market and began buying tickets directly from the Chiefs in hopes of reselling the tickets later,what would happen to the line outside of the ticket offices when the tickets are initially sold?

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Definitions:

Paul Ekman

A psychologist who is well-known for his work in the psychology of emotion and facial expression.

Survival Value

The degree to which a behavior or trait contributes to an organism's likelihood of survival and reproduction in a given environment.

Behavior Feedback Effect

describes how the expression of a behavior can influence and reinforce the feelings and attitudes associated with that behavior.

Facial Feedback Effect

The hypothesis that facial movements can influence emotional experiences, suggesting that smiling can make you feel happier.