To go or not to go

2 07 2009

With tragic death of Michael Jackson, fans who bought tickets to his upcoming concerts are facing a dilemma. Whether to ask for refund or to keep the ticket as a valuable souvenir. This is an intersting problem. If too many people ask for refund, the ticket would actually become rare, incereasing its ‘collector value’. Whereas, if everybody keeps the ticket as a souvenir, it would be a worthless piece of paper.  This article talks more about this puzzling problem. The problem is roughly similar to El Farol Bar problem.

Keeping the Math aside, I think an ardent MJ fan would go to the concert and keep the ticket as a souvenir.

Sources:

1. http://timesonline.typepad.com/science/2009/07/will-your-michael-jackson-tickets-be-worth-more-than-a-refund.html

2. http://en.wikipedia.org/wiki/Minority_game