OSU Game Tickets Supply VS Demand

Saturday's meeting of Texas was the first time these two schools have met in their entire history. Ohio was ranked 4th, and Texas 2nd. The excitement of this game was more than just rankings. Everyone who watched felt that with a win Ohio could pave their way for a sure bet National Title. As the game approached ticket prices soared. The regular price for a ticket is $60. However, prices soared to over $1500 a piece. I had friends pay $400 a piece. Of course since we lost they aren't feeling too good about that! But economically this sets up the rematch for next year's schedule. This is an excellent example of supply and demand. The scarce resource of tickets and the huge demand for them on Saturday set up a huge price increase.

Students are no longer aloud to sell their discounted tickets unless they upgrade to a full price ticket. Also, buyers would have to have a student ID according to new school rules.

Do you think the prices paid for the tickets was worth it? Is it really the idea of relativity of what something is worth to someone? How do you think next years rematch is going to effect supply and demand?

New School Rules

Here are some examples of the outrageous prices asked on Ebay