The Law and Pricing Strategies, Part II
I found this clip from last night’s Monday Night Football post-game show interesting for Steve Young’s description of the situation.
In it, he twice uses the word “inelastic” in referring to the demand for watching the NFL. He suggests that the reason the NFL doesn’t care about the fecklessness of the replacement referees is because inferior refereeing won’t decrease the number of people watching the games.
It’s intriguing to hear someone who is not an economist jump to an economics-based analysis of behavior. He’s an ex-quarterback who was a brilliant player.
Oh… and he is also a lawyer.