MUSI 3338 Lecture Notes - Lecture 13: Positional Good, Good Music, Exhibitionism
9 May 2018
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Defining Demand for Music
● All demand must come from some underlying notion of utility or value in objects or
activities.
○ Discussion
■ What is the utility or value of musical experience?
● unifying/connection
● Empowerment
● Healing
● Entertain
○ Distraction
○ Enjoyment
● Source of identity
■ What would cause demand to drop?
● price/income
● Differentiation
● Barriers to access
● Genre dinosaurs
Elements of Musical Value, According to Holbrook (2013)
● Efficiency
○ Not super expensive for your fan base
● Excellence
○ Needs to have a superior product / good music.
● Exhibitionism
● Elitism
○ The “cool” factor / Is it cool? / “I have good taste”
● Entertainment
● Esthetics (Aesthetics)
● Ethics
● Ecstacy
Music as a Luxury Good
● The opposite of a necessity good
● An item that is not necessary for living, but is deemed as highly-desired within a culture
or society.
● Also called a positional good: Reflects the owner’s social status.
● The share of income spent on the good, on average, will rise as income rises.
Types of Consumers
● Univores
○ Loyal to one type of product - not a lot of taste testing
● Omnivores
○ Diverse consumption - listens to a lot of different music
● Hyperunivores
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