At Next Olympics, Focus on Fans

It has become a widely accepted tenet of modern economics that markets are flawed and need fixing by experts to engineer desired outcomes. At the Winter Games in Pyeongchang, which just concluded, the International Olympic Committee appeared to take this conviction to extremes, trying to fill stands through highly restricted, targeted and convoluted ticket sales. The process arguably produced more empty seats than the bitter cold, lack of interest, or fear of North Korea did. Organizers of the 2020 Olympics in Tokyo should take heed.

Ticket markets are defined by the ability of buyers to purchase tickets from sellers at a mutually agreed upon price. The internet has made this process of finding, purchasing, verifying and delivering tickets easier than ever. Even for concerts and sporting events that are in high demand, consumers have access to a wide range of resale-market tickets that they can download directly to their smartphones.