{"id":62217,"date":"2020-12-23T04:00:50","date_gmt":"2020-12-23T09:00:50","guid":{"rendered":"https:\/\/quotulatiousness.ca\/blog\/?p=62217"},"modified":"2020-12-22T12:52:42","modified_gmt":"2020-12-22T17:52:42","slug":"no-console-scalpers-arent-ruining-christmas","status":"publish","type":"post","link":"https:\/\/quotulatiousness.ca\/blog\/2020\/12\/23\/no-console-scalpers-arent-ruining-christmas\/","title":{"rendered":"No, Console Scalpers Aren&#8217;t Ruining Christmas"},"content":{"rendered":"<p align=\"center\"><iframe loading=\"lazy\" width=\"854\" height=\"480\" src=\"https:\/\/www.youtube.com\/embed\/MsDmvuRAoJs\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/p>\n<blockquote><p><strong>Foundation for Economic Education<\/strong><br \/>\nPublished 22 Dec 2020<\/p>\n<p>Support Out of Frame on Patreon: <a href=\"https:\/\/www.patreon.com\/OutofFrameShow\" rel=\"noopener noreferrer\" target=\"_blank\">https:\/\/www.patreon.com\/OutofFrameShow<\/a><\/p>\n<p>Check out our podcast, Out of Frame: Behind the Scenes: https:\/\/www.youtube.com\/channel\/UCiS5&#8230;<\/p>\n<p>As we enter peak holiday season, most people have their shopping done by now, but as always, many are scrambling last-minute for their purchases. And if you aren\u2019t one of those early-birds fortunate enough to procure a PS5 or Xbox Series X, you can guarantee that you won&#8217;t be able to find one unless you&#8217;re willing to pay $1,200 to a scalper. <\/p>\n<p>Many are understandably frustrated. How is it fair for people to buy up the consoles at $500 and sell for nearly double or triple the cost? &#8220;There ought to be a law&#8221; against that kind of thing \u2014 right?<\/p>\n<p>Well, in short, there&#8217;s nothing wrong with scalping \u2014 and a few economic lessons will help explain why. <\/p>\n<p>Scarcity is real and so is time-preference. Scalpers (and even bots) show that demand for some goods is so high that people are willing to pay several times the list price \u2014 which could provide a lot of information to Sony and Microsoft on how many consoles to produce and in what parts of the world. They could factor that information into the future, so there would be less problems with availability, but most retailers make this information exchange impossible. <\/p>\n<p>______________________________<br \/>\nCREDITS:<\/p>\n<p>Produced by Sean W. Malone<br \/>\nWritten by Jen Maffessanti &#038; Sean W. Malone<br \/>\nEdited by Paul Nelson<br \/>\nAsst. Edited by Jason Reinhardt<\/p><\/blockquote>\n<p><a href=\"https:\/\/quotulatiousness.ca\/blog\/wp-content\/uploads\/2020\/12\/Screenshot_2020-12-23-No-Console-Scalpers-Aren\u2019t-Ruining-Christmas.png\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/quotulatiousness.ca\/blog\/wp-content\/uploads\/2020\/12\/Screenshot_2020-12-23-No-Console-Scalpers-Aren\u2019t-Ruining-Christmas-480x270.png\" alt=\"\" width=\"480\" height=\"270\" class=\"aligncenter size-medium wp-image-62219\" srcset=\"https:\/\/quotulatiousness.ca\/blog\/wp-content\/uploads\/2020\/12\/Screenshot_2020-12-23-No-Console-Scalpers-Aren\u2019t-Ruining-Christmas-480x270.png 480w, https:\/\/quotulatiousness.ca\/blog\/wp-content\/uploads\/2020\/12\/Screenshot_2020-12-23-No-Console-Scalpers-Aren\u2019t-Ruining-Christmas-150x84.png 150w, https:\/\/quotulatiousness.ca\/blog\/wp-content\/uploads\/2020\/12\/Screenshot_2020-12-23-No-Console-Scalpers-Aren\u2019t-Ruining-Christmas-768x432.png 768w, https:\/\/quotulatiousness.ca\/blog\/wp-content\/uploads\/2020\/12\/Screenshot_2020-12-23-No-Console-Scalpers-Aren\u2019t-Ruining-Christmas.png 854w\" sizes=\"auto, (max-width: 480px) 100vw, 480px\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Foundation for Economic Education Published 22 Dec 2020 Support Out of Frame on Patreon: https:\/\/www.patreon.com\/OutofFrameShow Check out our podcast, Out of Frame: Behind the Scenes: https:\/\/www.youtube.com\/channel\/UCiS5&#8230; As we enter peak holiday season, most people have their shopping done by now, but as always, many are scrambling last-minute for their purchases. And if you aren\u2019t one [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":35193,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[831,25,14,28],"tags":[345,1026,122,159],"class_list":["post-62217","post","type-post","status-publish","format-standard","hentry","category-business","category-economics","category-gaming","category-media","tag-christmas","tag-microeconomics","tag-movies","tag-shopping"],"jetpack_featured_media_url":"https:\/\/quotulatiousness.ca\/blog\/wp-content\/uploads\/2016\/06\/favicon.png","jetpack_shortlink":"https:\/\/wp.me\/p2hpV6-gbv","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/62217","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/comments?post=62217"}],"version-history":[{"count":2,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/62217\/revisions"}],"predecessor-version":[{"id":62220,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/62217\/revisions\/62220"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/media\/35193"}],"wp:attachment":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/media?parent=62217"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/categories?post=62217"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/tags?post=62217"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}