黃牛票

上周周杰倫在倫敦辦演唱會，買得到票的小夥伴們都翹著課去了，買不到的小夥伴買黃牛票也翹著課去了。在寢室好好學習的我今天就和大家聊一聊黃牛票市場 : )

Tout 在英式英語里指倒賣黃牛票。黃牛票市場有兩種交易方式，首先是買空（buying long)，這也是最常見的：先買後賣，票販們通常提前以原價買入，然後以更高的價格售出，從中賺取利潤。第二種是做空（selling short) ：先賣後買，票販們在買到票之前就承諾能夠以約定好的價格交易，這個價格通常比票麵價格要高，然後再從主辦方買入原價票，到約定時間再將票交給買主。這種情況下的買家通常是認為自己搶不到票，才委託票販子的。雖然這種買家比較少見，但還是確實存在的，比如我的數學老師。

如圖所示，因為會場座位有限，門票完全缺乏供給彈性，這就是說，無論價格怎麼變，會場能夠容納的人數都是不變的，所以供給曲線垂直於橫坐標。上圖中，市場出清／收益最大化的價格是P1，在這個點市場實現了供給平衡，主辦方的收益是A＋B。但是為了照顧一般粉絲的經濟承受能力，門票價格會在一級交易市場壓低到P2，這個點上供不應求（Qs < Qd），主辦方收益是A，無謂損失是D。所以這時候的資源配置不是最有效的，如果提高票價，短缺Qs－Qd就會消失，門票會被願意付更高價格的人買到。票販們在二級市場上能夠價格歧視消費者，說白了就是討價還價，看著你有錢又狂熱，就把價格提高；看著你又窮又冷淡，價格就低一點。最理想的情況是市場會在演唱會開始前出清，所有的票都會以在買家接受範圍內的最高的價格售出，所有的消費者剩餘都被轉化為利潤。

一個朋友說這也不失為一種優化資源配置、減少短缺的方式，我當時無言以對，回頭想想覺得這邏輯有點混。二級黃牛票市場並沒有減少短缺，他們還買走了一部分票，買這些票的消費者就已經不在對原來門票的需求曲線上了。黃牛其實買了多少票，就把對原來門票的供給和需求向內平移了多少，短缺還在。

需要說明的是，倒賣門票只會出現在供不應求的情況下，如果演唱會主辦方本身都愁得票賣不出去，自然也談不上黃牛票市場的存在了。

看消化學的書消化不會變好，搞懂了黃牛票市場也買不到票。有空看經濟學文章不如早早訂票［聳肩］祝大家都能看到想看的場子～

還是用英文再寫一遍，語言非常平實，希望大家都能看懂［比心］

A tout is a person who buys a ticket for a event, usually at face value, in the expectation of being able to resell it at a higher price to make a profit. Traders in the ticket market also engage in buying long, where they obtain the asset in advance, and selling short, where the ticket is offered for sale in advance at an inflated price by someone who does not yet own it but expects to buy it at a lower price before it is cut to be handed over.

As the diagram shows, the supply of ticket is perfectly inelastic as the number of seats in the concert is fixed, whatever that price may be. Assume a single price is set for a class of tickets, revenue maximizing price would be at the market clearing point (P1), where supply and demand meet, with revenue A+B earned by organiser.

Yet the organiser usually voluntarily give up the extra revenue B in order to cater for the genuine fan, and keep price within their reach (P2). This point is allocatively inefficient, leading to a excessive demand （Qs-Qd）and deadweight social lost D. A rise in price will reduce or even eliminate the shortage and direct tickets towards those who are prepared to pay more. In the most ideal secondary ticket market, touts would be able to price discriminate, removing fans entire consumer surplus and convert it into profit. The market would then clear before the concerns start, with all tickets sold at the highest possible price, earning profit D.

Although it is seemingly plausible that the touts price actually reduce the shortage, this argument can not bear further examinations. As the overall demand for tickets remains at Qd, but part of the available supply is bought by the touts and resold at a higher price, diverting tickets from the primary to the secondary market. Those who buy ticket from touts are no longer part of the demand at the face value. Thus in the primary market, both supply and demand curve shift to the left by the quantity of tickets bought by the touts.

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