The Washington Wizards are the deflationary sector

by on November 29, 2012 at 1:17 pm in Sports | Permalink

“It’s very driven by who the visiting team is,” he said. “For example, tonight, you can get into the [Wizards/Blazers] game for $1.69, but to get into the Heat game on Dec. 4 is $26, so it’s definitely matchup driven. When you have teams that are poor — and I am certain that the Wizards qualify — you see the bottom drop out.”

Yet, while the Wizards’ thrifty prices may not be uncommon, how fast they became so thrifty is.

“What’s rarer about this instance that it’s happening 12 games into the season,” Lehrman said. “Normally, you see this level of apathy take place in the middle of the season when you’re 40 games in and there’s not gonna be a playoff chase. You don’t normally see the fans quit on their team so quickly.

The story is here, and the Wizards were 0-12 to start the year.  Here is further information about their quality.

They won their first game last night, which perhaps will bring the expectation of higher prices and thus stimulate demand.

Jared November 29, 2012 at 1:32 pm

You’re woefully out of date! The Wizards beat the Trail Blazers last night. Cue up the Journey backed training montage; the comeback begins now! Wait… John Wall still has no timetable for return… Okafor and Ariza are still salary cap black holes… awww forget the whole thing.

j r November 29, 2012 at 2:03 pm

It’s possible that there is a sports bubble. Considering all the expansion in the professional leagues, the fact that the top college sports programs are de facto professional programs, and the proliferation of sports channels, there seems to be way too much sports content being brought to market than demand for it.

In DC, the people who are from here love the Redskins and, to a lesser extent, the Capitols. The people who move here have taken to the Nationals. From what I can tell, no one loves the Wizards. Maybe it’s their stupid name.

Local November 29, 2012 at 2:17 pm

I find that among my cohort of locals, born and bred, support is there for all four teams, like most cities, but that only the Redskins have unconditional sell-out-worthy appeal. I can’t speak for transplants because I am not one.

I do believe, however, that the higher rate of transient adults is what makes DC a “bad” sports town. After all, people are coming here with pre-existing sports loyalties, and as a result, a smaller % of the local population was born with “local sports loyalties”.

msgkings November 29, 2012 at 3:20 pm

+1 to Local.

But remember, a lot of fan support is of the bandwagon variety. The Wizards have stunk for a long time. If they ever get good they will get their love, just like every other team.

Football is a little different, there’s only 8 home games a year, not so hard to get most of your seats sold and so forth.

Ray Lopez November 30, 2012 at 6:50 am

+1 I agree. Another apathetic, jump on the bandwagon town is Los Angeles. A diehard town might be Cleveland or Buffalo or Boston or Philadelphia (so I hear).

attatt November 29, 2012 at 4:10 pm

“Maybe it’s their stupid name”

Yeah, they are supposed to be called the Bullets!

Jacob AG December 1, 2012 at 12:27 am

A bubble isn’t an excess of supply (not until after it pops, anyway). It’s an excess of demand.

maguro November 29, 2012 at 2:08 pm

Washington: First in war, first in peace and last in whatever NBA division the Wizards happen to be in.

msgkings November 29, 2012 at 3:21 pm

Ha! Yeah, you have to update it now that their baseball team is good.

Found an econ degree on the ground November 29, 2012 at 2:12 pm

Well, there’s obviously no demand substitution going on with locked-out Capitals fans, who often fill the very same arena that the Wiz play in. The question then becomes, where are all these discretionary winter dollars going? Maybe this is why I saw more annoying yuppies in Clarendon than usual last weekend.

mmel November 29, 2012 at 2:21 pm

If you consider the tickets selling for the end of the season as bets on the future standing of the team in the league and its favor among fans, I wonder if there is a mismatch between their potential likelihood of success and their current discounted value. If something happened that would raise the excitement among fans, there could be a significant increase in value from the $2 level. Is StubHub an efficient market for team morale futures?

moistness November 29, 2012 at 11:41 pm

No, it’s an inefficent one.

mark November 29, 2012 at 3:01 pm

We’ve become more efficient at achieving apathy. There is a Great Stagnation.

Neal November 29, 2012 at 5:30 pm

If only the Fed were ticketing NGDP …

Nigel Tuffnel November 29, 2012 at 6:34 pm

It’s not that the Wizards are less popular, it’s just that their appeal has become more selective.

Ian Faith November 30, 2012 at 10:50 am

Stop stealing my aphorisms, Nigel, and go back to your bloody guitar collection with the special +11 amp.

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