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Price Discrimination in the Concert Industry

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Author Info
Pascal Courty
Mario Pagliero

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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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Publisher Info
Paper provided by European University Institute in its series Economics Working Papers with number ECO2009/05.

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Date of creation: 2009
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Handle: RePEc:eui:euiwps:eco2009/05

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

Other versions of this item:

Find related papers by JEL classification:
D42 - Microeconomics - - Market Structure and Pricing - - - Monopoly
L82 - Industrial Organization - - Industry Studies: Services - - - Entertainment; Media
Z11 - Other Special Topics - - Cultural Economics - - - Economics of the Arts and Literature

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References listed on IDEAS
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  1. Rosen, Sherwin & Rosenfield, Andrew M, 1997. "Ticket Pricing," Journal of Law & Economics, University of Chicago Press, vol. 40(2), pages 351-76, October.
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  2. Meghan Busse & Marc Rysman, 2005. "Competition and Price Discrimination in Yellow Pages Advertising," RAND Journal of Economics, The RAND Corporation, vol. 36(2), pages 378-390, Summer.
    Other versions:
  3. Connolly, Marie & Krueger, Alan B., 2006. "Rockonomics: The Economics of Popular Music," Handbook of the Economics of Art and Culture, Elsevier. [Downloadable!] (restricted)
    Other versions:
  4. Holbrook, Morris B & Schindler, Robert M, 1989. " Some Exploratory Findings on the Development of Musical Tastes," Journal of Consumer Research: An Interdisciplinary Quarterly, University of Chicago Press, vol. 16(1), pages 119-24, June.
  5. Aviv Nevo & Catherine Wolfram, 2002. "Why Do Manufacturers Issue Coupons? An Empirical Analysis of Breakfast Cereals," RAND Journal of Economics, The RAND Corporation, vol. 33(2), pages 319-339, Summer.
  6. Mussa, Michael & Rosen, Sherwin, 1978. "Monopoly and product quality," Journal of Economic Theory, Elsevier, vol. 18(2), pages 301-317, August. [Downloadable!] (restricted)
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This page was last updated on 2009-11-12.

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