- 23 Sep 2020 12:28
It seems to me scalpers in this sort of situation will never be able to raise the price over the longer term, since the company can always expand their supply.
The consumers paying higher prices are the ones who are demanding this now and don't want to wait.
These scalpers are serving a legitimate economic function, in a way. "Efficient" market rationing requires high prices.
If these scalpers did not exist, and assuming there was inadequate supply to meet initial demand, then the distribution would take place at random, or on a first come first serve basis, with a mad rush to get it before it sells out. And not everybody who wanted one would be able to get one.
This way, the people willing to spend the most money will be the people who get one.
Now, what can also happen is a situation where artificial scarcity is created by speculation, and this sort of situation could indeed by parasitic from an economic perspective.
If this is happening, the ideal response would be for the company to increase their prices to try to recoup the maximum of the end consumer price, and that's what they "should have done" in the first place according the maximize profit concept (at least on a micro scale).