Tuesday, September 27, 2005
Ticket Prices for Denver Broncos
With the Denver Broncos current win and almost flawless game against the Kansas City Chiefs, one of my friends is already preparing to see the Bronco’s go to the Super Bowl. My friend is also expecting the repercussions of the win to affect ticket prices dramatically!
I see her point from an economic stand point and Denver has experienced it in previous years. If a Super Bowl win increases the Broncos’ popularity, which it has, then we could find ourselves in a shortage over Broncos’ tickets. This is just a simple supply and demand analysis; when the demand increases, we find ourselves in a shortage. As a result, the market price for Broncos’ tickets will most likely increase.
The cost for Bronco’s tickets has already increased after the new Invesco Field was built to replace the old Mile High Stadium. If the additional costs for tickets don’t appeal to Broncos’ fans this too would have an effect on the demand curve; we’d also see an increase in ticket scalping. There are many factors that play into pricing tickets and it is hard to predict exactly how this particular situation will play out.
I see her point from an economic stand point and Denver has experienced it in previous years. If a Super Bowl win increases the Broncos’ popularity, which it has, then we could find ourselves in a shortage over Broncos’ tickets. This is just a simple supply and demand analysis; when the demand increases, we find ourselves in a shortage. As a result, the market price for Broncos’ tickets will most likely increase.
The cost for Bronco’s tickets has already increased after the new Invesco Field was built to replace the old Mile High Stadium. If the additional costs for tickets don’t appeal to Broncos’ fans this too would have an effect on the demand curve; we’d also see an increase in ticket scalping. There are many factors that play into pricing tickets and it is hard to predict exactly how this particular situation will play out.
