Managing the supply of short-life products. A duration analysis approach using the UK film industry

Movies are uncertain products. Nobody knows much about them prior to their screening and their attempt to survive in the risky motion picture market week by week. This paper studies short-life products using the UK film industry as an example, with a larger database than employed previously, including high and low-budget films. Two effects not previously taken into account in the empirical literature are considered: cross-subsidisation and opportunity cost. Using a clog-log methodology and a sample of 552 films released in the UK, the empirical results highlight the importance of the distributor’s strategy and word-of-mouth for success in experience goods industries

Digitalisation and intermediaries in the Music Industry: The rise of the entrepreneur?

Prior to digitalisation, the vertical structure of the market for recorded music could be described as a large number of creators (composers, lyricists and musicians) supplying creative expressions to a small number of larger record labels and publishers. These funded, produced, and marketed the resulting recorded music and subsequently sold these works to consumers through a fragmented retail sector. We argue that digitalisation has led to a new structure in which the retail segment has also become concentrated. Such a structure, with successive oligopolistic segments, can lead to higher consumer prices through double marginalisation. We further question whether a combination of disintermediation of the record labels function combined with ‘self-publishing’ by creators, will lead to the demise of powerful firms in the record label segment. If so, this would shift market power from the record label and publisher segment to the retail segment (and new intermediaries such as ISPs), rather than increasing the number of segments with market power

From publishers to self-publishing: The disruptive effects of digitalisation on the book industry

This paper explores the structure of the book publishing industry postdigitalisation. We argue that the introduction of successful e-book readers has belatedly given digitalisation the characteristics of a disruptive technology by making self-publishing a serious option for authors. This has been supported by the entry of new types of intermediaries and the strengthening of others. These changes have reduced the overall complexities for an author to get a book self-published. As a result, a larger share of the surplus from the book industry is likely going to authors, explaining the significant increase in the supply of books. The potential over-supply of books has created a new problem by making consumer search more difficult. We argue that digitalisation has shifted the potential market failure from inadequate supply of books to asymmetric information about quality. It remains to be seen whether the market will provide appropriate intermediaries to solve the associated asymmetric information problem and, if not, what appropriate interventions should be contemplated

Digitalisation and intermediaries in the music industry

Prior to digitalisation, the vertical structure of the market for recorded music could be described as a large number of artists [composers, lyricists and musicians] supplying creative expressions to a small number of larger record labels and publishers who funded, produced, and marketed the resulting recorded music to subsequently sell these works to consumers through a fragmented retail sector. We argue that digitalisation has led to a new structure in which the retail segment has also become concentrated. Such a structure, with successive oligopolistic segments, can lead to higher consumer prices through double marginalisation. We further question whether a combination of disintermediation of the record labels function combined with “self-publishing” by artists, will lead to the demise of powerful firms in the record label segment, thus shifting market power from the record label and publisher segment to the retail segment, rather than increasing the number of segments with market power

Hollywood's wage structure and discrimination

The labour market for actors remains mostly unexplored. In this paper, we start by analyzing how Hollywood wages have changed over time. We then proceed to examine the determinants of wages. One of our key findings is that there are substantial wage differences among male and female actors in Hollywood. A Blinder-Oaxaca decomposition suggests that 45% of the differences in the gender-wage gap can be attributed to discrimination

Substitution between leisure activities: a quasi-natural experiment using sports viewing and cinema attendance

The allocation of time between leisure activities and work has been extensively analysed in academic literature. However, leisure time is limited and there may not be sufficient time to enjoy all the leisure activities desired. Hence, this paper considers the allocation of time between substitute leisure activities. International football tournaments provide an opportunity to consider consumers’ preferences for watching football and films in a quasi-natural experimental setting. A trade-off between these leisure activities is identified using a Difference-in-Difference methodology. Using an original, four country dataset, a large and robust negative effect of mega sports events on cinema admissions is identified

From publishers to self-publishing: disruptive effects in the book industry

This paper explores the structure of the book publishing industry post digitalisation, analysing the choices of the publishers and authors. The introduction of successful e-book readers has belatedly given digitalisation the characteristics of a disruptive technology by making self-publishing a serious option for authors. This has been supported by the entry of new types of intermediaries and the strengthening of others. These changes have reduced the general requirements for an author to get a book self-published. As a result, a larger share of the surplus from the book industry is likely to go to authors, explaining the significant increase in the supply of books. The potential oversupply of books has created a new problem by increasing competition and making consumer searches more difficult. We argue that digitalisation has shifted the potential for market failure from an inadequate supply of books to asymmetric information about quality. It remains to be seen whether the market will provide appropriate intermediaries to solve the asymmetric information problem

Famílies botàniques de plantes medicinals

Facultat de Farmàcia, Universitat de Barcelona. Ensenyament: Grau de Farmàcia, Assignatura: Botànica Farmacèutica, Curs: 2013-2014, Coordinadors: Joan Simon, Cèsar Blanché i Maria Bosch.Els materials que aquí es presenten són els recull de 175 treballs d’una família botànica d’interès medicinal realitzats de manera individual. Els treballs han estat realitzat per la totalitat dels estudiants dels grups M-2 i M-3 de l’assignatura Botànica Farmacèutica durant els mesos d’abril i maig del curs 2013-14. Tots els treballs s’han dut a terme a través de la plataforma de GoogleDocs i han estat tutoritzats pel professor de l’assignatura i revisats i finalment co-avaluats entre els propis estudiants. L’objectiu principal de l’activitat ha estat fomentar l’aprenentatge autònom i col·laboratiu en Botànica farmacèutica

Firm decisions under uncertainty in a two-sided market. A “Film Industry” classroom game

This game demonstrates the significance of a firm’s decision-making in a two-sided market and how various strategies can impact revenue. It is designed for undergraduate and graduate students studying Microeconomics, Industrial Organization, or more specific media and cultural economics modules, explicitly focusing on the creative industries. This paper outlines the development of a film industry game that helps students comprehend the structure of a two-sided market and analyse the dynamics of producing goods in the creative industries. The game provides a learning experience by allowing students to simulate real-world scenarios. It encourages critical thinking as participants navigate the complexities of the film industry, making decisions that mirror the strategic considerations faced by creative firms in a dynamic two-sided market