I may be misremebering, but when Sony launched the PS2 they were selling it for like $1000 the first month and they slowly dropped the price every couple of months until they reached about $400 a year after launch. It might have also been the retailers doing that.
But that is what they teach you in Econ101, that in a free market the best solution to every problem is to charge what the market will bear.
Arguably a smart thing for Sony would be to run an auction to sell the consoles and pocket the money that goes to the scalpers now. On the other hand that would not be a good look for Sony which means scalpers serve a dual function, regulate the price and take the heat off from Sony.
Scalpers serve as a market mechanism that ensures that people who are willing to pay the most for the console get it (first).
I may be misremebering, but when Sony launched the PS2 they were selling it for like $1000 the first month and they slowly dropped the price every couple of months until they reached about $400 a year after launch. It might have also been the retailers doing that.
But that is what they teach you in Econ101, that in a free market the best solution to every problem is to charge what the market will bear.
Arguably a smart thing for Sony would be to run an auction to sell the consoles and pocket the money that goes to the scalpers now. On the other hand that would not be a good look for Sony which means scalpers serve a dual function, regulate the price and take the heat off from Sony.