But released far fewer than people that wanted to buy a ferarri.
naturally a market of dealerships would snap up all the ferraris and sell them and much higher prices right? but that's not quite what ferrari intended when selling their cars at $5000. How they can get the cars into the hands of truly random people instead of always to the dealer is the problem here.
If this is what they intend, they could go about it differently; other posters suggest venues happily allow touts to take the risk away from the venue. A random lottery would be perfectly legal, and allow the ticket distribution to be random, if the venues desired this.
I'd also note, any company that actually did this, might not be able to maintain shareholders, since some companies aren't supposed to be anything but self-interested by design. Bands could always insist, though.
No one says that all individuals will be benefited by an efficient market. But they are a "good thing".
> Not all fans have the same marginal value of pocket change
Yet money is worth the same to the band anyway.
I want a Ferrari, but I'm not wealthy enough to afford one - who should be discounting my Ferrari?
> One median-income fan may be easily be more die-hard than another more blasé millionaire fan, yet he is also a die-hard fan of feeding his children
millionaires are also pretty rare, are there that few bands, playing that few concerts that millionaires get all the tickets?
What is I really really want a Ferrari, more than that lackluster millionaire - then do I get a discount?
Why are music concerts different to any other limited-supply product? It's entirely fair that "the fan who wants to see the gig the most" is not considered, because how, exactly, does anyone prove this is actually true?
> the person with the most money gets to make all of the decisions
The person willing to risk the most value. You want to make decisions without risking anything? Without having to work in advance to have enough to risk?
> because he has so much of it relative to the median person.
A wealthy person's money should only be able to buy things no one cares about?