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Increasing returns to information in the US popular music industry

  • David Giles

Using data relating to 'number one' hits on the Billboard Hot 100 chart, we find clear evidence of increasing returns to information in the US market for popular music. This evidence supports related findings for the motion picture industry in various countries, and for Broadway productions.

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File URL: http://www.informaworld.com/openurl?genre=article&doi=10.1080/13504850500461407&magic=repec&7C&7C8674ECAB8BB840C6AD35DC6213A474B5
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Article provided by Taylor & Francis Journals in its journal Applied Economics Letters.

Volume (Year): 14 (2007)
Issue (Month): 5 ()
Pages: 327-331

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Handle: RePEc:taf:apeclt:v:14:y:2007:i:5:p:327-331
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  1. David E. Giles, 2005. "Survival of the Hippest: Life at the Top of the Hot 100," Econometrics Working Papers 0507, Department of Economics, University of Victoria.
  2. Chris Hand, 2001. "Increasing returns to information: further evidence from the UK film market," Applied Economics Letters, Taylor & Francis Journals, vol. 8(6), pages 419-421.
  3. Connolly, Marie & Krueger, Alan B., 2006. "Rockonomics: The Economics of Popular Music," Handbook of the Economics of Art and Culture, Elsevier.
  4. Bikhchandani, Sushil & Hirshleifer, David & Welch, Ivo, 1992. "A Theory of Fads, Fashion, Custom, and Cultural Change in Informational Cascades," Journal of Political Economy, University of Chicago Press, vol. 100(5), pages 992-1026, October.
  5. De Vany, Arthur S. & Walls, W. David, 2004. "Motion picture profit, the stable Paretian hypothesis, and the curse of the superstar," Journal of Economic Dynamics and Control, Elsevier, vol. 28(6), pages 1035-1057, March.
  6. Andrew Burke, 1996. "The dynamics of product differentiation in the British record industry," Journal of Cultural Economics, Springer, vol. 20(2), pages 145-164, June.
  7. Eric Strobl & Clive Tucker, 2000. "The Dynamics of Chart Success in the U.K. Pre-Recorded Popular Music Industry," Journal of Cultural Economics, Springer, vol. 24(2), pages 113-134, May.
  8. Vining, Daniel R, Jr, 1976. "Autocorrelated Growth Rates and the Pareto Law: A Further Analysis," Journal of Political Economy, University of Chicago Press, vol. 84(2), pages 369-80, April.
  9. Victor Ginsburgh & David Throsby, 2006. "Handbook of the Eonomics of Art and Culture," ULB Institutional Repository 2013/152412, ULB -- Universite Libre de Bruxelles.
  10. David Maddison, 2004. "Increasing returns to information and the survival of broadway theatre productions," Applied Economics Letters, Taylor & Francis Journals, vol. 11(10), pages 639-643.
  11. Hamlen, William A, Jr, 1991. "Superstardom in Popular Music: Empirical Evidence," The Review of Economics and Statistics, MIT Press, vol. 73(4), pages 729-33, November.
  12. W. David Walls, 1997. "Increasing returns to information: evidence from the Hong Kong movie market," Applied Economics Letters, Taylor & Francis Journals, vol. 4(5), pages 287-290.
  13. Ijiri, Yuji & Simon, Herbert A, 1974. "Interpretations of Departures from the Pareto Curve Firm-Size Distributions," Journal of Political Economy, University of Chicago Press, vol. 82(2), pages 315-31, Part I, M.
  14. White, Halbert, 1980. "A Heteroskedasticity-Consistent Covariance Matrix Estimator and a Direct Test for Heteroskedasticity," Econometrica, Econometric Society, vol. 48(4), pages 817-38, May.
  15. Hamlen, William A, Jr, 1994. "Variety and Superstardom in Popular Music," Economic Inquiry, Western Economic Association International, vol. 32(3), pages 395-406, July.
  16. Chung, Kee H & Cox, Raymond A K, 1994. "A Stochastic Model of Superstardom: An Application of the Yule Distribution," The Review of Economics and Statistics, MIT Press, vol. 76(4), pages 771-75, November.
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