Northwestern University hopes, with a new pricing system for basketball game tickets, to recapture revenue it’s now losing to the secondary ticket market.

The purple pricing plan is a modified form of a Dutch Auction. It guarantees early ticket buyers will receive a rebate if the ticket prices decline as the game day nears.

As reported by Chicago Business, the plan, devised by two NU economics professors, will let the school fight back against secondary market sites like StubHub or Craigslist that have been drawing away fans hoping for a better price on tickets.

NU has seen a five percent increase in basketball attendance so far this year, filling better than three-quarters of the seats in Welch-Ryan Arena.

The new ticket model will be in place for the last two home games of the season, Feb. 28 against Ohio State and March 7 against Penn State.

Bill Smith is the editor and publisher of Evanston Now.

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