Why Oasis fans should welcome price gouging

Yet the fate of London’s foodies captured less attention than that of the parka-clad fans who missed out on tickets to see the reunion of Oasis, a laddish rock band. Owing to algorithmic “dynamic pricing”, in which prices of tickets adjust in response to demand, the cost of a standing ticket rose from £135 ($180) to £335 in the time many were queuing online, often for hours, to book. The government swiftly announced a probe. “We’ll grip this and make sure that tickets are available at a price that people can actually afford,” promised Sir Keir Starmer, Britain’s prime minister.