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Massachusetts Institute of Technology
Learning from Past Market Outcomes: Evidence from the Music Industry
Abstract
dc:description.abstractWe leverage unique features of music albums to investigate how musicians learn from current products when developing new products. We find that songs on a musician’s next album tend to be more similar to the songs that are more successful on that musician’s current album. This effect is stronger when the musician has less experience, and when the song on the current album is more novel (for that musician). Our findings suggest that musicians learn from the success of previous songs when developing new songs, and that learning is stronger if the musician has more need to learn, and when the song contains more new information.
Degree
thesis:*- Name thesis:degree_name
- Master
- Department dc:contributor.department
- Sloan School of Management
- Grantor dc:publisher
- Massachusetts Institute of Technology
- Year dc:date.issued
- 2025
Author and committee
dc:creator, dc:contributor.*- Author dc:creator
-
- Du, Jason
- Advisor dc:contributor.advisor
-
- Simester, Duncan
Rights
dc:rights- Statement dc:rights
-
- In Copyright - Educational Use Permitted
- Copyright retained by author(s)
- Licence dc:rights.uri
Identifiers
dc:identifier.*- Handle dc:identifier.uri
- https://hdl.handle.net/1721.1/158804
- OAI identifier oai:identifier
- oai:dspace.mit.edu:1721.1/158804