Rockonomics: The Economics of Popular Music

This paper considers economic issues and trends in the rock and roll industry, broadly defined. The analysis focuses on concert revenues, the main source of performers ‘ income. Issues considered include: price measurement; concert price acceleration in the 1990s; the increased concentration of revenue among performers; reasons for the secondary ticket market; methods for ranking performers; copyright protection; and technological change.

Foi uma das minhas leituras de fim de semana.

Rockonomics

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  1. Crestfall

    To further investigate the distribution of concert revenues, we followed De
    Vany’s (2004) chapter on movies in this Handbook and De Vany and Walls (2004), and
    fit a Pareto distribution to the revenue data. As is well known, a Pareto distribution is
    characterized by thick tails (on one or both sides), and thus provides a good fit for income
    distributions. The Pareto distribution is part of a more general class of stable
    distributions, S(?,?,?,?), of which the Gaussian is also a special case. The parameter of
    interest here is ?, the tail weight, with 0 < ? ? 2. A tail weight of 2 implies a normal
    distribution. As ? approaches 0, greater weight is placed in the tail of the distribution.
    To estimate ?, we used a simple regression method.10 We first assigned ranks to each
    artist’s 2003 revenues, with rank 1 indicating the highest revenue, rank 2 the second
    highest, and so on. Then we regressed log revenue on the log of the ranks as follows:
    (4.2) Log(Revenue) = a – b Log(Rank)

    Não vou ler, tenho mais que fazer :-s

  2. Melancolia

    txxiiiiii a curva Guassiana! Lembro-me disto, mas não do contexto :P

  3. Pedro

    LOL essa parte mais de economia pura passei à frente. De qualquer forma tem lá coisas interessantes. Sim e já tive a minha dose de Pareto.