The Pricing of Art and the Art of Pricing: Pricing Styles in the Concert Industry

Pascal Courty and Mario Pagliero

No 8967, CEPR Discussion Papers from Centre for Economic Policy Research

Abstract: We document the existence of pricing styles in the concert industry. Artists differ in the extent to which they rely on second- and third-degree price discrimination and in how likely they are to sell out concerts. Most strikingly, artists who use multiple seating categories are more likely to vary prices across markets and less likely to sell out concerts. These patterns are difficult to explain under a standard profit maximization paradigm. The hypothesis that artists differ in their willingness to exploit market power provides a plausible framework for explaining these patterns in artist pricing style.

Keywords: Behavioral pricing; Exploitation of market power; Fair pricing; Price discrimination; Pricing style; Rationing (search for similar items in EconPapers)
JEL-codes: D42 D45 L21 L82 Z11 (search for similar items in EconPapers)
Date: 2012-05
New Economics Papers: this item is included in nep-com, nep-cul, nep-hme and nep-ind
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7)

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