In the 1990s, to see Michael Jordan or Garth Brooks live you had to buy the ticket through Ticketmaster, or from a scalper. Today, Ticketmaster has merged with concert promoter Live Nation and now controls the sale of tickets to sports and music events. Competitors have entered the market, and event tickets are now sold through Internet auction markets.

How will the increased competition in the sale of tickets affect the service fee component of the price and the efficiency of the market? Will scalpers survive?