On the uniform pricing puzzle in recorded music

This paper proposes a possible explanation for uniform pricing in the recorded music industry, based on a pooling equilibrium across different quality types. We show that an ex ante ability to invest in the probability of success - which we identify with record companies' A&R expenditures - makes such a pooling equilibrium more likely.

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Year of publication:	2013-06
Authors:	Richardson, Martin ; Stahler, Frank
Institutions:	College of Business and Economics, Australian National University

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Extent:	application/pdf
Series:	ANU Working Papers in Economics and Econometrics.
Type of publication:	Book / Working Paper
Notes:	19 pages longPages
Classification:	D40 - Market Structure and Pricing. General ; L20 - Firm Objectives, Organization, and Behavior. General ; L82 - Entertainment; Media (Performing Arts, Visual Arts, Broadcasting, Publishing, etc.) ; M21 - Business Economics ; Z11 - Economics of the Arts and Literature
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011107147