The Economics of the New Yankee Stadium
From the NY Post:
Reader Gary Cicio, NYC podiatrist, did the research, and asks us to choose one of the two options to see a Mariners-Yankees game this season, and from the very best seats:
Option 1: Two tickets to Tuesday night, June 30, Mariners at Yanks, cost for just the tickets, $5,000.
Option 2: Two round-trip airline tickets to Seattle, Friday, Aug. 14, return Sunday the 16th, rental car for three days, two-night double occupancy stay in four-star hotel, two top tickets to both the Saturday and Sunday Yanks-Mariners games, two best-restaurant-in-town dinners for two. Total cost, $2,800. Plus-frequent flyer miles.
Was it not Mises who said that the purchasing power of money is the same everywhere? Some of the price differential will come from the greater value of the business connection in New York. And maybe those seats are really good.
What about the opportunity cost of time from flying from NY to Seattle? What about the experience of watching balls fly out of the new Yankee stadium – with the emphasis on new – like planes out of LaGuardia? Surely all that matters too.