Abstract
Purpose: Two facts are established: Firstly, social influence makes success in cultural markets unpredictable and unequal. Secondly, aesthetic quality of songs is a significant factor of influence on popular appeal of songs. My study connects these two areas of research, investigating in how far experts’ judgements and popularity of songs are used (a) as signals of aesthetic quality in music markets, (b) in how far this influences demand for certain songs and (c) in how far training in aesthetic appreciation changes how experts’ judgements and popularity affect consumers’ assessments of aesthetic quality and music demand.
Originality: This will be the first study that investigates empirically the interactive effects of social influence and aesthetic quality in cultural markets.
Key literature / theoretical perspective:
• Hendricks, Ken and Alan Sorensen. 2009. "Information and the skewness of music sales." Journal of political Economy, 117:2, pp. 324-69.
• Holbrook, Morris, Kathleen Lacher, and Michael LaTour. 2006. "Audience judgments as the potential missing link between expert judgments and audience appeal: An illustration based on musical recordings of “My Funny Valentine”." Journal of the Academy of Marketing Science, 34:1, pp. 8-18.
• Salganik, Matthew J., Peter S. Dodds, and Duncan J. Watts. 2006. "Experimental study of inequality and unpredictability in an artificial cultural market." Science, 311:5762, pp. 854-56.
Practical and Social implications: Arts policy makers as well as marketers of music will benefit from the additional insight generated.
| Original language | English |
|---|---|
| Pages (from-to) | 90 |
| Number of pages | 1 |
| Journal | Expo 2010 Higher Degree Research : book of abstracts |
| Publication status | Published - 2010 |
| Event | Higher Degree Research Expo (6th : 2010) - Sydney Duration: 19 Nov 2010 → 19 Nov 2010 |
Keywords
- music markets
- aesthetic quality
- social influence