Ticket To Ride

The video explores the complexities of ticket pricing, focusing on sports and airline tickets. Duke economist Andrew Sweeting explains that contrary to popular belief, sports tickets are often cheaper closer to the event, unlike airline tickets which tend to increase in price as the departure date approaches. Sweeting's research, supported by the National Science Foundation, aims to understand seller behavior and market design for perishable goods. The video provides insights for consumers on when to buy tickets to save money, highlighting the differences in pricing strategies between sports and airline industries.

What is a common misconception about buying tickets for a sold-out game?

• Tickets are always the same price.

• Tickets are more expensive months in advance.

• Tickets are cheaper months in advance.

• Tickets are cheaper closer to the game time.

According to Andrew Sweeting, when are basketball tickets likely to cost more?

• Two days before the game

• One week before the game

• Three months out

• On the day of the game

Why do airline ticket prices tend to increase closer to the departure date?

• Airlines want to fill empty seats.

• Business travelers have inelastic demand.

• Airlines have a lot of unsold tickets.

• Airlines follow typical pricing theories.

What is the main focus of Andrew Sweeting's research?

• To analyze airline ticket sales

• To test theories on pricing perishable goods

• To understand consumer behavior in sports

• To study the impact of sports events on local economies

When should you buy airline tickets to save money, according to Sweeting?

• On the day of the flight

• Three months in advance

• One week before the flight

• At least two weeks early