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Comment | Former England Skipper Lampard Interviewed By Town
at 21:17:41
Please, please, please no, Mr Evans. I know you don't understand why this would be awful, and they say you're a Chelsea fan as well so it must have been great for you to meet Frank, but please don't do this to us. Give that nice Mr Ross a call. |
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Comment | Former England Skipper Lampard Interviewed By Town
at 16:45:46
The idea of path dependence, or multiple equilibria as I called it incorrectly, is that the economic outcome is determined by historical events/decisions. There isn't one equilibrium price at which ITFC maximise profits, but many possible prices at which they could maximise profits. however, this price is constantly evolving as history is created. So, the concept of equilibrium as a static concept is incorrect.
The interesting thing, is that one event can put a business/organisation onto a completely different 'path'. Such that had something in the past happened slightly differently, ITFC attendances/ticket demand/prices could be completely different. But, once an organisation is on a particular 'path', it can be difficult to identify what put you on this path, and possible ways to move onto another path.
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Comment | Former England Skipper Lampard Interviewed By Town
at 15:50:42
Gosh, very good.
If you wish to develop your research further, you might wish to incorporate some dynamic element to your model. See, we might expect that as the stadium becomes closer to full, the experience improves for the supporters, and the price they are willing to pay increases. Your comparative statics exercise which treats demand as exogenous misses this factor, which may or may not be significant.
Perhaps there could be multiple equilibria? one with high prices and low attendance (causing low demand), and another where the lower prices trigger higher demand, which increases attendances, which triggers more demand etc etc.
That's not to say I disagree, your assumptions sound far more reasonable than the other chap.
See Nelson and Winter (1982) for more on path dependency, indeed they wouldn't say 'multiple equilibria' at all I dare say, being against that sort of thing. |
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Comment | Former England Skipper Lampard Interviewed By Town
at 11:43:23
But, it's also like me paying £30 for a crap hotdog, eating it, being sick, and saying how horrible it was.
Then, two weeks later, buying another one from the same dodgy bloke while saying "this one should be brilliant, I see he's bought a new sauce, and he's promising to put loads of onions on it this time!".
Again, the new sauce is worse the old one, the onions taste of grease and the experience is horrific. Oh well, we say, maybe next time the hotdog will tasty, and back we come.
My point is that to say that no other business does it like football, is to say that no other customers do it like football fans. If you think football is like any other business, why aren't you shopping at Carrow Road or Upton Park instead? |
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Comment | [Blog] Why Matchday Ticket Prices Must Fall Next Season
at 11:43:23
But, it's also like me paying £30 for a crap hotdog, eating it, being sick, and saying how horrible it was.
Then, two weeks later, buying another one from the same dodgy bloke while saying "this one should be brilliant, I see he's bought a new sauce, and he's promising to put loads of onions on it this time!".
Again, the new sauce is worse the old one, the onions taste of grease and the experience is horrific. Oh well, we say, maybe next time the hotdog will tasty, and back we come.
My point is that to say that no other business does it like football, is to say that no other customers do it like football fans. If you think football is like any other business, why aren't you shopping at Carrow Road or Upton Park instead? |
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Comment | [Blog] Why Matchday Ticket Prices Must Fall Next Season
at 09:44:32
For what you get, football tickets are awful value everywhere, and Ipswich Town FC over the last few years must be just about the worst value anywhere in English Football I would have thought.
I'm not sure the economic arguments hold much water though. You merely make an assumption about how many people would come at a cheaper price by plucking a figure from the air.
It certainly is an appealing argument to fans, to suggest that by reducing prices the fans and the club could both win, but almost certainly not true. The price of football is generally so high because the loyalty of fans mean demand for tickets is quite inelastic to changes in price. The club maximises revenue by raising prices to the point at which fans are not quite motivated enough to organise some mass protest/boycott against the high prices. |
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Comment | Supple Back in Action
at 16:15:29
He let 2 in I think. And 13 went over the bar, which meant he lost. Supples team only got 12 over the bar. |
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Comment | Supple Back in Action
at 15:54:46
I would rather have a report from Shane's Gaelic football team than the latest attempt to sign Darryl Murphy. Indeed, perhaps we could have a special feature on Shane later in the season, how he's getting on in with the GAA, any regrets, has he got a proper job yet, etc. It is incredibly rare for a young footballer to give up football when playing at a pretty high level, this makes it incredibly interesting. |
| | gordon
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