Why concert tickets sell out instantly - resale markets, bots, and price ceilings explained

Earlier this month, I was 500th in the infamous virtual Ticketmaster queue for Olivia Rodrigo’s Unraveled Tour at the O2. By everyone around me at the time, that should have been fine. The O2’s capacity is 20,000, there was no reason why I should not get tickets. Five minutes later, I got through to the ticket page, card ready, eager to buy - and there were only two tickets left in the entirety of the O2. VIP standing tickets at £308 each.

Read more »

Dupes, counterfeits, and the economics of knockoff culture

There’s a TikTok that keeps reappearing in various forms across your for you page: someone compares the £12 e.l.f Halo Glow next to the original £40 Charlotte Tilbury Hollywood Flawless Filter, swatches both on each side of their face, and asks the viewers whether they can actually tell the difference between the two products. The comments are always filled with the same mix: people tagging their friends, people claiming that the cheaper alternative is not only an alternative, but a better option, and at least one person insisting that the original product is ‘just better’ without quite being able to back up their argument. 

Read more »