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on Cultural Economics |
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Issue of 2006‒06‒10
two papers chosen by Roberto Zanola Universita degli Studi del Piemonte Orientale |
| By: | Ken Hendricks; Alan Sorensen |
| Abstract: | This paper studies the role of consumer learning in the demand for recorded music by examining the impact of an artist’s new album on sales of past and future albums. Using detailed album sales data for a sample of 355 artists, we show that the release of a new album increases sales of old albums, and the increase is substantial and permanent—especially if the new release is a hit. Various patterns in the data suggest the source of the spillover is information: a new release causes some uninformed consumers to learn about their preferences for the artist’s past albums. These information spillovers suggest that the high concentration of success across artists may partly result from a lack of information, and they have significant implications for investment and the structure of contracts between artists and record labels. |
| JEL: | D83 L15 L82 |
| Date: | 2006–05 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:12263&r=cul |
| By: | Leonardo Burlamaqui |
| Abstract: | In the 21 century globalized economy, innovation, antitrust issues and (new) intellectual property rules are in the forefront of every government, large company and policy making debates. This paper aims to be a preliminary effort to contribute for a better understanding of the interactions between Competition policies (rather than antitrust) and Intellectual Property issues under a schumpeterian perspective and, therefore, towards a more coherent framework within which the discussions of both institutional building and policy design towards development can proceed. The policy-institutions resulting from the analyses should be flexible and pragmatic, and should have creative destruction management – or the promotion and regulation of entrepreneurial success – as its main goal. The key insight of the policy prescriptions proposed to deal with the question is the need of a huge dose of “strategic state action” and a high degree of international cooperation. |
| Date: | 2006–02 |
| URL: | http://d.repec.org/n?u=RePEc:tth:wpaper:06&r=cul |