Markets in time

by on October 11, 2006 at 9:21 pm in Economics | Permalink

…[the Chicago White Sox] have just announced
that for the next three seasons, their evening home games will begin at
7:11 p.m. instead of the customary 7:05 p.m. or 7:35 p.m.  Why?  Because
7-Eleven, the convenience store chain, is paying them $500,000 to do so.

That is from Stephen Dubner.

1 Paul N October 11, 2006 at 9:57 pm

This strikes me as worth much more than $500k, although the demand curve is certainly an awkward one.

2 John B. October 12, 2006 at 1:44 am

Well, it seems to me that the store chain Seven- Eleven is getting the better end out of this deal. The White Sox are getting paid only 500k to change the starting time of their games where as Seven-Eleven gets advertising out of this deal, although the fans may not even pay attention to the shameless act of advertisment after a few games take place. Of cours this form of advertisment may not even work but if it actally does then the profits that seven-eleven gets in return will far out-weigh the amount they paid the White Sox to change their games starting times.

3 triticale October 12, 2006 at 4:52 am

Market in timing, I’d say. The networks will fill those minutes with pregame babble, and cut back on postgame review. No minutes will actually change hands.

4 Mike October 12, 2006 at 5:48 pm

The White Sox actually receive $500,000 a year, so $1.5 mln isn’t exactly bad from the White Sox’ standpoint. And hey, who knows what that type of money could buy (another Dominican prospect perhaps?). 🙂

As a White Sox fan myself, this is actually a very smart idea. It’ll be even better if I can buy Slurpees at the ballpark.

5 Will Johnson October 25, 2006 at 9:15 pm

This is not a question of game time per say but just one more thing in the world that is for sale. This could be a good move for 7/11 if the White Sox continue to win, that can be associated with 7/11. I guess it was inevitable that this would take place someone purchasing a time not just some time.

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