In economics, it’s generally helpful to have some measure of how responsive consumers and producers are to changes in price (or income, or whatever, but mainly price). In some cases, consumers will just grin and bear a price increase, while in other situations they will avoid the more expensive product like the plague. [...]
Entries Tagged as 'Music Biz'
A Lesson In Elasticity, Concert Tickets Edition…
October 12th, 2009 · 5 Comments
Econ 101 · Music Biz
Save The Music!?? And A Lesson On Related Goods…
May 29th, 2009 · 15 Comments
Econ 101 · Music Biz · Policy
(A very dear friend of mine said that he hoped I was being ironic with the title of this post, since he is so sick of the cliche. I told him that a. the default with me should be to assume there is some sort of sarcasm or snark present, and b. [...]
Tags: Econ 101 · Music Biz · Policy
Things Economists Might Want To Stay Away From, Music Edition…
April 10th, 2009 · 5 Comments
Behavioral Econ · Happiness · Music Biz
Let’s see, things that economists should stay away from…bears (bears are SO on notice), the sun (I doubt all that being inside running regressions does wonders for anyone’s base tan), Rush Limbaugh, the banking industry, apparently…and the arts?
Maybe. Just go with me here…so economic models for consumer choice hinge on the notion of utility [...]
Tags: Behavioral Econ · Happiness · Music Biz
I Love Rock ‘N’ Roll (Part 1)…
March 30th, 2009 · 3 Comments
Incentives · Music Biz
I’m surprised that it’s taken me this long to write a post on the music industry, since it’s something that is near and dear to my heart. (Note: I intend this to be the first in a series, coming soon to a web site near you…) I started researching the media industry [...]
Tags: Incentives · Music Biz