Ticket scalping: is this illogical?
I can't decide if I'm being completely irrational here or not:
1)A friend of mine informs me that tickets for concert X are about to go on sale.
2)I tell him that I'm going to try to get the tickets for face value ($50 each) but I'm not willing to pay the likely price on the secondary scalping market ($250 each).
3)He replies that it's irrational for me to go to the concert then, because if I get the face-value tickets, i could just sell them on the secondary market.
Assuming that I could truly gain +$250 by selling (or that I wouldn't pay $200 on the secondary market; basically that my threshold is not between the profit and secondary market cost), am I being irrational here?
I can't decide. My instict is that there is a difference between spending my current resources and money i could potentially earn, but i can't put my finger on it. I don't think the decrease in marginal value of dollars has an effect here - we're not talking about a huge sum of money relative to my net worth, income, etc.
matt
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