The Economics of the Popular Music Industry

1. Front Matter

   Pages i-viii

   PDF

2. Introduction

   • Chong Hyun Christie Byun

   Pages 1-17

3. Basic Consumer Theory

   • Chong Hyun Christie Byun

   Pages 18-67

4. Basic Producer Theory

   • Chong Hyun Christie Byun

   Pages 68-107

5. Conclusion

   • Chong Hyun Christie Byun

   Pages 108-113

6. Back Matter

   Pages 114-128

   PDF

This Palgrave Pivot uses modeling from microeconomic theory and industrial organization to demonstrate how consumers and producers have responded to major changes in the music industry. Byun examines the important role of technology in changing its structure, particularly as new methods of creating and accessing music prove to be a double-edged sword for creators and producers. An underlying theme in the project is the question of how the business of music affects creativity, and how artists continue to produce creative output in the face of business pressures, the erosion of copyright enforcement, and rampant online piracy. In addition to being a useful resource for economists interested in the music industry, this approachable Pivot is also ideal for business and music majors studying the effect of technology on their chosen fields.

• Economics
• Microeconomics
• Industrial
• Organization
• Music
• Industry
• Music piracy
• Streaming
• economic theory
• economics
• industrial organization
• Microeconomic Theory
• microeconomics
• modeling
• organization
• organizations
• technology

• Wabash College, USA

  Chong Hyun Christie Byun

Chong Hyun Christie Byun is Associate Professor of Economics at Wabash College, USA. She teaches courses on statistics, econometrics, environmental economics, and the economics of the financial crisis. She is an avid music listener and is interested in applying economic theory to study the changes in the music industry.

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