A couple of months ago I gave a talk at NerdNite Boston entitled “What Albums and Lattes Have in Common: Consumer Psychology and the Music Business.” In it, I got to talk about all sorts of behavioral economics-y stuff and explain how economists’ findings are relevant to both independent artists and people on the [...]
Entries Tagged as 'Music Biz'
When Economics, Music, and Nerds Collide…
November 29th, 2011 · 2 Comments
Behavioral Econ · Music Biz · Videos
Tags: Behavioral Econ · Music Biz · Videos
Why The Adventures Of Tom Sawyer Should Be On Every Musician’s Kindle…
April 8th, 2011 · 6 Comments
Behavioral Econ · Music Biz
In my spare time, I work for a band. Part of this is for pure entertainment value and part is because I am interested in how the industry works (or doesn’t work), especially from a consumer behavior perspective. In talking with musicians and their managers, I hear a lot of statements of the [...]
Tags: Behavioral Econ · Music Biz
A Lesson In Elasticity, Concert Tickets Edition…
October 12th, 2009 · 5 Comments
Econ 101 · Music Biz
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. [...]
Save The Music!?? And A Lesson On Related Goods…
May 29th, 2009 · 17 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