Quantitative Marketing and Economics 2013

نویسنده

  • James M. Kilts
چکیده

This paper is an empirical examination of observational learning. Using data from an online market for music, I find that observational learning is a valuable tool for the producers of high quality products and for consumers, but not necessarily for the online platform. I also study the role of pricing as a friction to the learning process by comparing outcomes under a demand based pricing scheme to the counterfactual outcomes under a fixed price. I find that a price of 99 cents per song (the traditional price in the industry) hampers learning by reducing the incentive to experiment.

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تاریخ انتشار 2013