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PricThe musical tribute band is a neglected topic in the field of economics. At first sight, it may seem to be a simple case of general copycatting which has been covered for other products and markets. We provide empirical exploration of the market in the form of a pricing equation using recent data for tribute concerts in Germany. This shows the importance of voluntary withdrawal by the copyright holders or involuntary withdrawal (death or prolonged illness) as ticket prices are statistically significantly higher when the original act, being tributed, no longer exists. We also find features of the act being tributed, such as a proxy for relevance based on the size of their Wikipedia entry, to be statistically significant determinants of ticket price.ing in live music: an empirical analysis of the tribute band sector

Author

Listed:
  • Samuel Cameron

    (Independent researcher)

  • Hendrik Sonnabend

    (FernUniversität in Hagen)

Abstract

No abstract is available for this item.

Suggested Citation

  • Samuel Cameron & Hendrik Sonnabend, 2020. "PricThe musical tribute band is a neglected topic in the field of economics. At first sight, it may seem to be a simple case of general copycatting which has been covered for other products and market," Economics Bulletin, AccessEcon, vol. 40(2), pages 890-900.
    • Handle: RePEc:ebl:ecbull:eb-20-00093
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    References listed on IDEAS

    as
    1. Samuel Cameron (ed.), 2011. "Handbook on the Economics of Leisure," Books, Edward Elgar Publishing, number 13469.
    2. Connolly, Marie & Krueger, Alan B., 2006. "Rockonomics: The Economics of Popular Music," Handbook of the Economics of Art and Culture, in: V.A. Ginsburgh & D. Throsby (ed.), Handbook of the Economics of Art and Culture, edition 1, volume 1, chapter 20, pages 667-719, Elsevier.
    3. Pascal Courty, 2019. "Ticket resale, bots, and the fair price ticketing curse," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 43(3), pages 345-363, September.
    4. Phillip Leslie & Alan Sorensen, 2014. "Resale and Rent-Seeking: An Application to Ticket Markets," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 81(1), pages 266-300.
    5. Hendrik Sonnabend, 2016. "Fairness constraints on profit-seeking: evidence from the German club concert industry," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 40(4), pages 529-545, November.
    6. Victor Ginsburgh & David Throsby, 2006. "Handbook of the economics of art and culture," ULB Institutional Repository 2013/1673, ULB -- Universite Libre de Bruxelles.
    7. Breusch, T S & Pagan, A R, 1979. "A Simple Test for Heteroscedasticity and Random Coefficient Variation," Econometrica, Econometric Society, vol. 47(5), pages 1287-1294, September.
    8. Alan B. Krueger, 2005. "The Economics of Real Superstars: The Market for Rock Concerts in the Material World," Journal of Labor Economics, University of Chicago Press, vol. 23(1), pages 1-30, January.
    9. Richard Goldstein, 1992. "Interpretations of dummy variables in regressions with log dependent variables," Stata Technical Bulletin, StataCorp LP, vol. 1(5).
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    11. David E. Giles, 2011. "Interpreting Dummy Variables in Semi-logarithmic Regression Models: Exact Distributional Results," Econometrics Working Papers 1101, Department of Economics, University of Victoria.
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    More about this item

    Keywords

    product identity; copycatting; music business; tribute acts;
    All these keywords.

    JEL classification:

    • J4 - Labor and Demographic Economics - - Particular Labor Markets
    • Z1 - Other Special Topics - - Cultural Economics

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