Think of it like this. If every one knew there was going to be a gas shortage soon but more gas wouldn't be available until tomorrow at noon. When you go to the pump to buy gas when they open, it's all gone because some company came in and paid off the delivery people to sell 95% of it to them before it made it to the store. They then take that $1.95 a gallon gasoline and start selling it for $50 a gallon. You have to pay the price if you want to drive because they are the only ones with gas for sale.
The cries of price gouging of tickets should not even be associated with a a critical product/service such as gasoline supply. It seems to me, that by default, a bias can be created in some readers, by the critical nature of this product/service being associated with a consumer optional product such as a concert ticket. In that respect, I consider this a non-fair analogy.
I am not an economic expert. I'm just responding based on my
very limited knowledge in this subject. But it seems to me that in fact, if this particular gasoline scenario occurred, it would probably result in warranted regulation. But such a thing seems not probable to occur, as the complexities of pulling this off would be substantial. How would it ever happen? Just a few considerations: Often the large gas station chains are tied directly to the refineries via contract or ownership, and the fuel must end up at the station as the primary point of sale or the contract would be violated and/or the gas station (the distribution point) would lose money. In the case of contract violation, this would eventually be self-corrected via the legal system. In the case of owned stations by refineries, they would be putting their own distribution points (fixed, long term money makers) at risk to make a 'quick' buck. In either case, it would be temporary, but they could risk putting a major consumer mistrust image up for themselves, causing substantial temporary losses even when the product is available again at the primary distribution points. How does the company that purchased all of the available gas from a substantial number(enough to cause substantial shortage at normal distribution points) of points move it? You have to have distribution points. That would be the gas stations. It seems another case where the system is successfully self-regulating.
In the case of the concert tickets -- they are moving them. Somebody is paying someone, and someone must be making money, or the practice would not continue. Since this is private property/service being offered, the sellers and buyer and re-sellers have the right to charge whatever amount that they desire. It's not likely they will ask for more than they expect to receive. Why should these private owners/companies be required to sell their product/service at a price that you (or me) would prefer? If they so desire, they have the right to never sell the tickets.
The only times I am against price/policy of a private company to the point where I would approve forcible interference, is when it fits my previous qualifier concerning critical service/product, or the business relies upon the government to force their business model to work/perpetuate against consumer will. At this point, the government(which is supposed to be of the people, for the people) is counter-acting it's own purpose, and is to me, a vile act.
-Chris
