Description:  Fancy a last-minute ticket to the opening ceremonies? Get ready to fork over about a thousand bucks. How about a glimpse at Shaun White at Wednesday’s halfpipe finals? It’ll set you back another $1,400. And as for rink-side seats at the men’s ice hockey final game… those will cost you more than this year’s Super Bowl tix — a whopping $3,250 or more.

Source: CNNMoney.com

Date: 02/12/2010

Link: http://money.cnn.com/2010/02/12/news/economy/olympics_tickets/index.htm

Questions for discussion:

• Explain, from the buyer’s point of view, the willingness to pay these high prices for Olympic events?
• If some buyers are willing to pay these prices, why wouldn’t the organizing committees set them at higher prices in the first place? Explain your thinking.