If you’ve ever watched a Taylor Swift ticket vanish from your cart, or a 7 p.m. restaurant reservation disappear in a blink, an economist has a name for what just happened to you: a “hidden market.”
“Today, the concert ticket industry is broken,” a government attorney told jurors at a civil antitrust trial in early March. Ticketmaster and its parent Live Nation Entertainment have monopolized the market, the Department of Justice argued, driving up the prices for everyone.
