Baseball bat sales up 6500%!

Nearly every story has some application to the teaching and understanding of Economics and the tragedy of the London (and elsewhere) riots is no different. I can think of at least four important economic concepts that this can be used as an example for.

Sales of baseball bats on amazon.co.uk have increased by over 6500% over the past week. I imagine that this is not because baseball has suddenly become more popular in the UK and assume that they are being purchased for protection. Economic concepts include…

- tastes and fashions. An excellent example to use for those other factors that increase demand for a product. Because it was unexpected, a shortage resulted.

- price elasticity of supply. If you didn’t get in early then you will have missed out - the expected wait for shipping is now five weeks. Amazon were unable to increase the availability of the bats quickly.

- demerit goods. Our American friends are probably mystified as to why the demand for baseball bats has increased - surely a handgun would be a much better form of protection?

- externalities. A good discussion could be had as to whether the consumption of baseball bats leads to positive or negative externalities.

Any other ideas?