Pay what you want!
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Abstract
In 2007 the rock band Radiohead launched the new album through on-line sale, through the formula pay-what-you-want for the first month. Surprisingly, more than 40% of consumers paid a price greater than zero. Once the formula expired, the album registered a record in sales. This «natural experiment» provides useful guidelines on the most appropriate policy design to manage copyright law in the digital era.
Keywords
- copyright law and economics
- music
- piracy
- behavioral law and economics
- K00
- M13
- Q28
