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  • econometric methodology  (3)
  • 1
    Electronic Resource
    Electronic Resource
    Springer
    Journal of cultural economics 20 (1996), S. 145-164 
    ISSN: 1573-6997
    Keywords: music industry ; product differentiation ; econometric methodology ; demand
    Source: Springer Online Journal Archives 1860-2000
    Topics: Art History , Economics
    Notes: Abstract The paper conducts a statistical analysis of the dynamics of the sale of new music (product differentiation innovation) in the record industry. In pursuing this goal the paper generates new data and analyses a previously unutilized data set. The paper finds that there is a strong correlation between new music innovation in the audio singles and albums market. This is found to be mainly concurrent in the same quarter and to have a reasonably short product life. The paper discovers that these features also characterise the dynamics of record company performance. The research indicates that record companies are willing to sell singles at a loss due to advertising rather than learning externalities. At the industry level, the paper finds that new music innovation does not effect market size significantly and mainly causes ‘business stealing’ effects between record companies, with exceptional cases of multiplier effects.
    Type of Medium: Electronic Resource
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  • 2
    Electronic Resource
    Electronic Resource
    Springer
    Journal of cultural economics 20 (1996), S. 145-164 
    ISSN: 1573-6997
    Keywords: music industry ; product differentiation ; econometric methodology ; demand
    Source: Springer Online Journal Archives 1860-2000
    Topics: Art History , Economics
    Notes: Abstract The paper conducts a statistical analysis of the dynamics of the sale of new music (product differentiation innovation) in the record industry. In pursuing this goal the paper generates new data and analyses a previously unutilized data set. The paper finds that there is a strong correlation between new music innovation in the audio singles and albums market. This is found to be mainly concurrent in the same quarter and to have a reasonably short product life. The paper discovers that these features also characterise the dynamics of record company performance. The research indicates that record companies are willing to sell singles at a loss due to advertising rather than learning externalities. At the industry level, the paper finds that new music innovation does not effect market size significantly and mainly causes “business stealing’ effects between record companies, with exceptional cases of multiplier effects.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 3
    Electronic Resource
    Electronic Resource
    Springer
    Journal of cultural economics 18 (1994), S. 41-64 
    ISSN: 1573-6997
    Keywords: music industry ; audio software ; econometric methodology
    Source: Springer Online Journal Archives 1860-2000
    Topics: Art History , Economics
    Notes: Abstract The paper estimates the demand for vinyl L.P.s in the U.K. In so doing, it outlines a technique to account for the impact of product differentiation innovation when estimating the demand for a product group. This may be particularly important for cultural goods where consumers are attracted to buy a product because of its unique characteristics and where these characteristics differ across time. Thus, the methodology may be used to estimate the demand for other product groups, such as movies and literature. Over the sample period L.P.s are found to be normal goods which are close to being unit price elastic. The diffusion of the Compact Disc appears to reduce the price elasticity of vinyl L.P.s. Consumers also appear to treat L.P.s as perishable goods and the demand for vinyl albums is positively stimulated both by the range of albums available on the L.P. format and product differentiation innovation.
    Type of Medium: Electronic Resource
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