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18 May 2018
1) In 2003, a seat on the Chicago Board of Trade (CBOT) sold for only $338,000, compared to $2.0 million for on the New York Stock Exchange (NYSE). In January 2005, however, a CBOT seat was sold for $1.25 million, while a NYSE seat sold for $975,000. First, explain why anyone would pay a positive price for a CBOT or NYSE seat and what this price represents. Second, explain why the seat values changed so much.
1) In 2003, a seat on the Chicago Board of Trade (CBOT) sold for only $338,000, compared to $2.0 million for on the New York Stock Exchange (NYSE). In January 2005, however, a CBOT seat was sold for $1.25 million, while a NYSE seat sold for $975,000. First, explain why anyone would pay a positive price for a CBOT or NYSE seat and what this price represents. Second, explain why the seat values changed so much.
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Nelly StrackeLv2
18 May 2018