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Information asymmetry on markets of cultural goods

Author

Listed:
  • Bulina, A.

    (Department of Economic Theory and Economic Policy, Faculty of Economics, St. Petersburg State University)

Abstract

Specificity of the product of creative labor and the impossibility of testing raises a number of problems for cultural markets. One of the effects of information asymmetry in the market is adverse selection, which leads to a deterioration in the quality of services and goods on the market. This paper proposes an approach to the analysis of market failure in distribution of the creative products. Most of methods associated with the sphere of culture and art, are ineffective or impossible to use in this case.

Suggested Citation

  • Bulina, A., 2013. "Information asymmetry on markets of cultural goods," Annals of marketing-mba, Department of Marketing, Marketing MBA (RSconsult), vol. 2, July.
    • Handle: RePEc:mmb:journl:articl_v2_3_13
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    File URL: http://www.marketing-mba.ru/article/v2_13/Bulina.pdf
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    References listed on IDEAS

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    1. Деньгов Виктор Вениаминович & Грегова Елена Яновна, 2003. "Теория Контрактов: Новейший Раздел Современной Микроэкономической Теории," Vestnik of the St. Petersburg University. Series 5. Economics Вестник Санкт-Петербургского университета. Серия 5. Экономика, CyberLeninka;Федеральное государственное бюджетное образовательное учреждение высшего образования «Санкт-Петербургский государственный университет», issue 1 (5), pages 31-39.
    2. Glenn Ellison, 2005. "A Model of Add-On Pricing," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 120(2), pages 585-637.
    3. Elodie Jouny Rivier & Julien Jouny-Rivier, 2016. "When Co-creation Becomes the Beating Heart of a Store: The Case of “Le Petit Bazar”," Post-Print hal-01446177, HAL.
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    Cited by:

    1. Pashkus, V.Y. & Krasnikova, T. S., 2014. "Quality Of Life: Concepts, Approaches And Assessments," Annals of marketing-mba, Department of Marketing, Marketing MBA (RSconsult), vol. 3, November.

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    Keywords

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    JEL classification:

    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing
    • Z11 - Other Special Topics - - Cultural Economics - - - Economics of the Arts and Literature

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