Economics faculty Kerry Tan, Ph.D., and Stephen Walters, Ph.D., discuss how baseball ticket prices are set in news article
May 21, 2013
Kerry Tan, Ph.D., assistant professor of economics, and Stephen Walters, Ph.D., professor of economics, explain what baseball teams consider when setting ticket prices in an article appearing in The Daily Times and the Kansas City Star. Both discuss the changing nature of pricing policy in an effort to bring more fans, and families, to professional games:
"It used to be the case that a team would post their ticket prices regardless of the game or promotion, and the prices were always going to be stable," Tan said.
"There's a strong correlation between the average price (of a ticket), size of market, and income level,” said Walters. "I think it's really a great time to be a fan," There's more competition for the entertainment dollar, more sensitive pricing, and teams are reaching out (to fans) more."