Hashmoney: exploring Twitter hashtag use as a secondary ticket market price determinant

Pegoraro, Ann; O'Hallarn, Brendan; Shapiro, Stephen L.

doi:10.1504/ijsmm.2018.10012843

Cited by 1 publication

(2 citation statements)

References 58 publications

(95 reference statements)

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“…The model was developed based on literature on the secondary ticket market (e.g. Drayer and Shapiro, 2009; O'Hallarn et al ., 2018; Shapiro et al ., 2021; Shapiro and Drayer, 2014). Additionally, ticket prices on each day were dummy coded to analyze how the number of days remaining affected listed ticket prices (see Table 1).…”

Section: Methodsmentioning

confidence: 99%

“…Studies have revealed numerous price determinants in diverse secondary ticket market domains (e.g. seat location, team's current winning percentage, number of superstars, division/league affiliation, number of tweets and part of the season; Drayer et al ., 2012a; O'Hallarn et al ., 2018; Shapiro and Drayer, 2014; Shapiro et al ., 2016; Shapiro et al ., 2021). Price determinants have been discovered in a resale environment that is mostly driven by demand (Shapiro and Drayer, 2014).…”

Section: Introductionmentioning

confidence: 99%

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Does time matter? How major league baseball secondary market sellers make ticket pricing decisions

Lee

Morse

Hyun³

et al. 2023

SBM

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PurposePricing studies have largely focused on sellers' pricing strategies and price determinants. To expand earlier work on sellers' pricing decisions, this study considers time as a major factor driving sellers' ticket prices in the secondary market. Specifically, because most secondary market transactions occur in the last moments before a game, this study considers how resellers adjust ticket prices within a few days prior to a game day including an actual game day.Design/methodology/approachTo examine the impact of time on secondary market ticket prices for Major League Baseball (MLB), ticket prices were collected from StubHub (one of the largest secondary ticket markets) four times per game: from 3 days to 1 day prior to a game day and on the actual game day. Additionally, 10 control variables were obtained from previous research on price determinants (N = 19,155). A multiple regression model was created based on the extant literature regarding secondary market ticket prices.FindingsResults indicate the number of days before a game negatively influenced ticket prices: resellers decreased ticket prices consistently during the last few days prior to a game's first inning. Specifically, secondary market ticket prices decreased relatively dramatically on an actual game day. Time had no significant effects on ticket prices 2 days prior to a game day. In addition to the role of time, league affiliation and the number of all-star players were identified as key price determinants in the secondary market. Moreover, changes in weather forecasts and the home team starting pitcher's ERA played significant roles in price changes.Research limitations/implicationsDespite containing a relatively high number of data observations compared with prior pricing studies, this study's findings were limited to certain teams. Additionally, as only MLB secondary market ticket pricing was considered, different outcomes and implications may apply in other major sport ticket markets (e.g. NBA, NFL, NHL and MLS) featuring distinct league structures, policies and demand.Practical implicationsThis study offers practical guidance for sellers' pricing decisions. Most secondary ticket market sellers lowered their ticket prices relatively dramatically on an actual game day. Reducing ticket prices prior to a game day can lead to greater chances to avoid unsold tickets that compromise revenue management. This study's results also afford professional sport organizations and secondary ticket market consumers a clearer understanding of the factors resellers consider when setting ticket prices.Originality/valueAlthough previous studies have uncovered essential elements influencing ticket prices and consumer demand in the secondary ticket market, little work has examined how time affects sellers' pricing decisions within a few days prior to a game day. Little is known about the elements that significantly influence sellers’ decisions to adjust (i.e. increase or decrease) ticket prices in the secondary market as well. This topic deserves ongoing attention, as new outcomes can supplement previous studies' findings due to changing market environments.

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Section: Methodsmentioning

confidence: 99%