On the uniform pricing puzzle in recorded music
AbstractThis paper proposes a possible explanation for uniform pricing in the recorded music industry, based on a pooling equilibrium across different quality types. We show that an ex ante ability to invest in the probability of success - which we identify with record companies' A&R expenditures - makes such a pooling equilibrium more likely.
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Bibliographic InfoPaper provided by Australian National University, College of Business and Economics, School of Economics in its series ANU Working Papers in Economics and Econometrics with number 2013-612.
Length: 19 Pages
Date of creation: Jun 2013
Date of revision:
Find related papers by JEL classification:
- D40 - Microeconomics - - Market Structure and Pricing - - - General
- L20 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - General
- L82 - Industrial Organization - - Industry Studies: Services - - - Entertainment; Media
- M21 - Business Administration and Business Economics; Marketing; Accounting - - Business Economics - - - Business Economics
- Z11 - Other Special Topics - - Cultural Economics - - - Economics of the Arts and Literature
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