For as long as I can remember we have had a subscription to Reader's Digest because, well, let's just say that the articles are just the right length for 'browsing.'. Anyway, yesterday I was 'browsing' and came across this misguided gem:
Sheesh. Changes in the supply of tickets do not affect demand. Demand stays the same (the demand curve stays in exactly the same place). An individual fan isn't willing to pay more or less based on the number of games available. The trick here is a decrease in supply causes the new equilibrium to be 'higher up' the demand curve than it would be if more games/seats were available. Higher up the demand curve is a place where those with the highest willingness and ability to pay reside. From our basics of Supply and Demand in Env-Econ 101, when you observe higher prices and lower quantities you should econsenses should immediately trigger the supply decrease signal.
Why a Sports Ticket Costs What it Costs: College Football $100-$3,000
Shorter schedules and fewer home games than the pros increase demand.