The Economics of Real Superstars: The Market for Rock Concerts in the Material World
Abstract
Beginning in 1997, the price of concert tickets took off and ticket sales declined. From 1996 to 2003, for example, the average concert price increased by 82%, while the CPI increased by 17%. Explanations for price growth include (1) the possible crowding out of the secondary ticket market, (2) rising superstar effects, (3) Baumols and Bowen's disease, (4) increased concentraion of promoters, and (5) the erosion of complementarities between concerts and album sales because of file sharing and CD copying. The article tentatively concludes that the decline in complementarities is the main cause of the recent surge in concert prices.Download Info
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Bibliographic Info
Article provided by University of Chicago Press in its journal Journal of Labor Economics.
Volume (Year): 23 (2005)
Issue (Month): 1 (January)
Pages: 1-30
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Handle: RePEc:ucp:jlabec:v:23:y:2005:i:1:p:1-30
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Related research
Keywords:Other versions of this item:
- Alan B. Krueger, 2004. "The Economics of Real Superstars: The Market for Rock Concerts in the Material World," Working Papers 7, Princeton University, Department of Economics, Industrial Relations Section..
- Alan Krueger, 2004. "The Economics of Real Superstars: The Market for Rock Concerts in the Material World," Working Papers 863, Princeton University, Department of Economics, Industrial Relations Section..
- Q13 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Markets and Marketing; Cooperatives; Agribusiness
- Q14 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Finance
References
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Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.Cited by:
- Marie Connolly & Alan Krueger, 2005.
"Rockonomics: The Economics of Popular Music,"
Working Papers
878, Princeton University, Department of Economics, Industrial Relations Section..
- Connolly, Marie & Krueger, Alan B., 2006. "Rockonomics: The Economics of Popular Music," Handbook of the Economics of Art and Culture, Elsevier.
- Marie Connolly & Alan B. Krueger, 2005. "Rockonomics: The Economics of Popular Music," NBER Working Papers 11282, National Bureau of Economic Research, Inc.
- Thomes, Tim Paul, 2011. "An economic analysis of online streaming. How the music industry can generate revenues from cloud computing," ZEW Discussion Papers 11-039, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
- Thomes, Tim Paul, 2011. "An economic analysis of online streaming: How the music industry can generate revenues from cloud computing," ZEW Discussion Papers 11-039 [rev.], ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
- William R. Johnson, 2005. "Creative Pricing In Markets For Intellectual Property," Virginia Economics Online Papers 369, University of Virginia, Department of Economics.
- Timothy Perri, 2004.
"A Competitive Model of (Super)Stars,"
Working Papers
04-09, Department of Economics, Appalachian State University, revised 2005.
- Timothy Perri, 2011. "A Competitive Model of (Super)Stars," Working Papers 11-11, Department of Economics, Appalachian State University.
- Andrés González-Moralejo, S & Compés López, R, 2009. "Problemas contractuales y acuerdos de subcontratación: El caso de la logística frigorífica en la industria alimentaria valenciana/," Estudios de Economía Aplicada, Estudios de Economía Aplicada, vol. 27, pages 279 (30 Pá, Abril.
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- Felix Oberholzer-Gee & Koleman Strumpf, 2010. "File Sharing and Copyright," NBER Chapters, in: Innovation Policy and the Economy, Volume 10, pages 19-55 National Bureau of Economic Research, Inc.
- Xavier Gabaix & Augustin Landier, 2006.
"Why Has CEO Pay Increased So Much?,"
NBER Working Papers
12365, National Bureau of Economic Research, Inc.
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- Gabaix, Xavier & Landier, Augustin, 2008. "Why Has CEO Pay Increased So Much?," Open Access publications from University of Toulouse 1 Capitole http://neeo.univ-tlse1.fr, University of Toulouse 1 Capitole.
- Xavier Gabaix & Augustin Landier, 2006. "Why Has CEO Pay Increased So Much?," 2006 Meeting Papers 518, Society for Economic Dynamics.
- Kurt W. Rotthoff & Craig A. Depken, II & Peter A. Groothuis, 2011. "Influences on Sponsorship Deals in NASCAR: Indirect Evidence from Time on Camera," Working Papers 11-07, Department of Economics, Appalachian State University.
- Alcalá, Francisco & González-Maestre, Miguel, 2010.
"Copying, superstars, and artistic creation,"
Information Economics and Policy,
Elsevier, vol. 22(4), pages 365-378, December.
- Francisco Alcalá & Miguel González-Maestre, 2009. "Copying, Superstars, and Artistic Creation," Working Papers 0902, International Economics Institute, University of Valencia.
- Alcalá, Francisco & Gonzalez-Maestre, Miguel, 2009. "Copying, superstars and artistic creation," UMUFAE Economics Working Papers 5606, DIGITUM. Universidad de Murcia.
- Bacache-Beauvallet, Maya & Bourreau, Marc & Moreau, François, 2011. "Portrait des musiciens à l'heure du numérique," Opuscules du CEPREMAP, CEPREMAP, number 22.
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