I quantify the effects of private-network music sharing on aggregate album sales in the BitTorrent era using a panel of US sales and private-network downloads for 2,109 albums during 2008. Exogenous shocks to the network's sharing constraints address the simultaneity problem. In theory,...

I quantify the effects of private-network music sharing on aggregate album sales in the BitTorrent era using a panel of US sales and private-network downloads for 2,109 albums during 2008. Exogenous shocks to the network's sharing constraints address the simultaneity problem. In theory,...

The effects of (private, small-scale) copying on the pricing behavior of producers of information goods are studied within a unified model à la Mussa-Rosen (1978). When the copying technology involves a marginal cost and no fixed cost, producers act independently. In this simple framework, we...