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The market speaks
Yesterday, Bush headlined a fundraiser for the New Jersey state GOP, where donors could pay $5,000 to pose for a photo with the Commander in Chief. Expensive photo op, right? Well, that's actually cheaper that what donors paid just a year ago for a grip and grin with Bush. Last summer, GOP officials around the country charged at least $10,000 a pop for presidential photo op, a bargain compared to the $25,000-a-flash Bush commanded during some Republican National Committee fund-raisers back in 2000 and 2004.
Here is the link. The pointer is from Leslie Katz.
Posted by Tyler Cowen on June 4, 2007 at 05:11 PM in Political Science | Permalink
Comments
How much of this is delta and how much is just time decay?
Posted by: DK at Jun 4, 2007 5:40:43 PM
Hm, are photo rights timewise and personwise transferable? I might want to profit from a future upswing
in demand for photo ops with Bush.
"Oh, no Mr. President, I didn't want to have my photo taken with you. May I have a rain check for a year from now ...
and could you do someone else instead of me?"
Posted by: Person at Jun 4, 2007 5:43:29 PM
Will futures on photo-ops work? Could be a market there...
It is only fair that photo-ops' value decays with time. He's got less time in the hot seat - so you have less time to flaunt the photo while it's relevant. A photo with Ronald Reagan won't get you quite the same as a photo with the current (for better or worse) leader of the free world, will it?
Posted by: Harish at Jun 4, 2007 6:41:06 PM
Harish: Reagan croaked already.
Posted by: Person at Jun 5, 2007 12:47:57 AM
2000, 2004, and 2006 were election years. 2007 is not. Their choice of years to use for context seems pretty slanted.
Posted by: Noumenon at Jun 5, 2007 3:25:19 AM
Hmmm... I'd say these prices suggest that Bush won't be running for re-election in 2008.
Posted by: aaron at Jun 5, 2007 8:25:34 AM
