Baseball ticket prices--supply, not millionaires

Baseball fans love to blame players' multi-million dollar salaries for rising ticket prices. They're wrong. Sure, the average pay of a major league player is now $2.9 million, up about 25 percent in the last five years. At first blush it would seem to correspond quite nicely to ticket prices, which are up 26 percent over the same period, or about twice the rate of inflation. The closing of the upper deck in Oakland has helped the Athletics raise ticket prices and may actually increase rather than decrease ticket sales. But cost of labor has very little to do with the cost a company can command in the market place. If it did, the General Motors, Ford and the U.S. airline industry wouldn't be in the shape they're in. No, what's at work here is supply and demand. From CNN/Money

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