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Price Discrimination in the Concert Industry

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  • Courty, Pascal
  • Pagliero, Mario

Abstract

Concert tickets can either be sold at a single price or at different prices to reflect the various levels of seating categories available. Here we consider how two product characteristics (the artist’s age and venue capacity) influence the likelihood that pop music concert tickets will be sold at different prices. We argue that valuation heterogeneity, and thus the returns to using price discrimination, are higher for older artists and in larger venues. We test this hypothesis in a large dataset of concerts. By singling out variations in the two characteristics that are exogenous to the decision to price discriminate, we show that these characteristics have a large and significant impact on the use of price discrimination.

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Bibliographic Info

Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 7143.

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Date of creation: Jan 2009
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Handle: RePEc:cpr:ceprdp:7143

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Keywords: Price discrimination; profit maximization; second degree price discrimination;

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References

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  1. Connolly, Marie & Krueger, Alan B., 2006. "Rockonomics: The Economics of Popular Music," Handbook of the Economics of Art and Culture, Elsevier.
  2. Phillip Leslie & Alan Sorensen, 2009. "The Welfare Effects of Ticket Resale," NBER Working Papers 15476, National Bureau of Economic Research, Inc.
  3. Mussa, Michael & Rosen, Sherwin, 1978. "Monopoly and product quality," Journal of Economic Theory, Elsevier, vol. 18(2), pages 301-317, August.
  4. Sofronis K. Clerides, 2004. "Price Discrimination with Differentiated Products: Definition and Identification," Economic Inquiry, Western Economic Association International, vol. 42(3), pages 402-412, July.
  5. Holbrook, Morris B & Schindler, Robert M, 1989. " Some Exploratory Findings on the Development of Musical Tastes," Journal of Consumer Research, University of Chicago Press, vol. 16(1), pages 119-24, June.
  6. Rosen, Sherwin & Rosenfield, Andrew M, 1997. "Ticket Pricing," Journal of Law and Economics, University of Chicago Press, vol. 40(2), pages 351-76, October.
  7. Meghan R. Busse & Marc Rysman, 2001. "Competition and Price Discrimination in Yellow Pages Advertising," Yale School of Management Working Papers ysm207, Yale School of Management.
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Cited by:
  1. Phillip Leslie & Alan Sorensen, 2009. "The Welfare Effects of Ticket Resale," NBER Working Papers 15476, National Bureau of Economic Research, Inc.
  2. Pascal Courty & Mario Pagliero, 2009. "The Impact of Price Discrimination on Revenue: Evidence from the Concert Industry," Economics Working Papers ECO2009/04, European University Institute.

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