By Nell Jones
Music streaming has increased industry revenue and displaced piracy, but limited profits for artists. In this thesis, I examine user loyalty to streaming platforms, focusing on the asset specificity of features and estimating what users are willing to pay for each of these features. A structural equation model of survey data shows that feature satisfaction positively affects both asset specificity of and overall satisfaction with streaming platforms, strengthening user loyalty. Using conjoint analysis, I estimate that users are willing to pay at least $14.40 for platforms that offer algorithm, playlist and social features, and the ability to download music.
Advisors: Professor Michael Munger, Professor Grace Kim | JEL Codes: Z1, Z11, M21
By Victoria Lim
The American film industry, which has historically been driven by the domestic market, now receives an increasing proportion of its revenue from abroad (foreign share). To determine the factors influencing this trend, this paper analyzed data from 11 countries of 2,337 American films released during 2000 – 2014. Both film and country attributes were analyzed to determine each attribute’s effect on foreign share, whether its effect size has changed over time and whether each attribute has changed in frequency amongst films released. The results identified six attributes, star actors, sequels, releases in top markets, release time lag, GDP growth and a match in language, that contributed to the increase in foreign share over this period.
Advisor: James Roberts, Kent Kimbrough | JEL Codes: F40, L82, Z11 | Tagged:
Optimal Ordering in Sequential English Auctions: A Revenue-Comparison Model for 18th Century Art Auctions in London and Paris
By Amaan Mitha
We develop a model based on several auction parameters to test the widely held notion that in a sequential English auction, it is optimal for the seller to arrange the lots in order of decreasing value. We test this model against two datasets of 18th century auctions, one of various auctions from Paris and the other from Christie’s sales in London. We find that the Paris data support the claim, while the Christie’s data seem to refute the optimal strategy. We also find a rationale for bidders in the Christie’s auctions to alter their strategies, accounting for the discrepancy.
Advisor: Neil De Marchi | JEL Codes: D4, Z11 | Tagged: