Originally published in Chicago Daily Law Bulletin on December 18, 2012.
Sports teams have long experienced challenges in setting ticket prices in the traditional way — months in advance of the season and with only few variations in pricing, based on location of the seats in the venue. Price tickets too high and fans feel gouged — and stay home — eventually eroding a team’s fan base.
Price tickets too low and even crowded stands and sell-out games may enrich scalpers more than owners. And gauging demand six months or more in advance is often speculative, since later information about the team, the health of its players and its chances for success as the season progresses, as well as the health and record of its competitors, can all impact the price fans will pay.
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