It’s not a physical good, but I had also been thinking that most of the price of renting a venue on the open market is trust (that you won’t mess up their space; whether they can give you the keys vs. needing someone to let you in), followed by coordination. Hence, why having a friend let you use their office’s conference room on a weekend to do an event might cost $0, while renting such a space might cost $1000.
To clarify: You’re not saying the wedding tax is because of insurance costs, as the article is asking about, right?
Wedding tax is, in fact, mostly insurance costs. Not liability insurance, but having to charge more because
Weddings get canceled, or have significant scope changes, much more than, say bar mitzvas.
Equipment failures are way more serious at a wedding than a birthday party.
Thanks! This is good.
It’s not a physical good, but I had also been thinking that most of the price of renting a venue on the open market is trust (that you won’t mess up their space; whether they can give you the keys vs. needing someone to let you in), followed by coordination. Hence, why having a friend let you use their office’s conference room on a weekend to do an event might cost $0, while renting such a space might cost $1000.