Browsing Social Sciences Publications by Subject "Musical works; Pricing; MiniDiscs; Purchase behaviour"
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The value of collecting a particular musical artist: the case of MiniDiscsThis paper adds to the limited economic literature on collecting behaviour by studying the price of musical works in the minidisc format. Over 1,000 MiniDisc prices are analysed using various estimating equations. The use of MiniDiscs allows the estimate of 'pure' collecting effects as there is no gain, in terms of listening content, from the purchase over other formats. What we observe in pricing can therefore be seen as premium for the fan of collecting a scarce item of product. Solo artists who had a tragic death commanded an estimated premium of around 86% using the power function with Greatest Hits having a premium of around 45% price. Both these were statistically significant at high levels.