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- handle: 10670/1.isklqg
- halshs: halshs-01163907
info:eu-repo/semantics/OpenAccess
Mots-clés
experimental economics cultural goods music industry Stardom system D - Microeconomics/D.D0 - General/D.D0.D04 - Microeconomic Policy: Formulation, Implementation, and Evaluation C - Mathematical and Quantitative Methods/C.C9 - Design of Experiments Z - Other Special Topics/Z.Z1 - Cultural Economics • Economic Sociology • Economic AnthropologySujets proches
Serious music Musical compositions Art music Musical works Classical music Western music (Western countries) Art music, Western Western art musicCiter ce document
Noémi Berlin et al., « Time spent on New Songs: Word-of-Mouth and Price Effects on Teenager Consumption », HAL-SHS : économie et finance, ID : 10670/1.isklqg
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Résumé
The stardom system characterizes creative industries: the demand and revenues are concentrated on a few bestselling books, movies or music. In this paper, we study the demand structure between bestsellers and new artists' productions in the music industry. We set up an experiment where participants face real choices situations. We crate three treatments to isolate the effect of information and incentives on diversity. In a first treatment, music is consumed for free without information. In a second one, subjects receive a prior information on others' evaluation of songs to study the effect of word-of-mouth. Finally, in a third one, a real market is introduced and music is bought. Significant evidence shows that word-of-mouth lowers diversity, while price incentives tend to lift it. In both treatments, subjects also react to the information or incentives nature.