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On the "uniform pricing puzzle" in recorded music

Richardson, Martin; Stähler, Frank

Description

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’ artists and repertoire (A&R) expenditures – makes such a pooling equilibrium more likely.

CollectionsANU Research Publications
Date published: 2016
Type: Journal article
URI: http://hdl.handle.net/1885/111398
Source: Information Economics and Policy
DOI: 10.1016/j.infoecopol.2015.12.001

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