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Samuel Cameron and Hendrik Sonnabend
''Pricing in live music: an empirical analysis of the tribute band sector''
( 2020, Vol. 40 No.2 )
The musical tribute band is a neglected topic in the field of economics. At first sight, it may seem to be a simple case of general copycatting which has been covered for other products and markets. We provide empirical exploration of the market in the form of a pricing equation using recent data for tribute concerts in Germany. This shows the importance of voluntary withdrawal by the copyright holders or involuntary withdrawal (death or prolonged illness) as ticket prices are statistically significantly higher when the original act, being tributed, no longer exists. We also find features of the act being tributed, such as a proxy for relevance based on the size of their Wikipedia entry, to be statistically significant determinants of ticket price.
Keywords: product identity; copycatting; music business; tribute acts
JEL: J4 - Particular Labor Markets: General
Z1 - Cultural Economics; Economic Sociology; Economic Anthropology: General
Manuscript Received : Feb 05 2020 Manuscript Accepted : Apr 15 2020

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