Bye, Bye, Miss American Pie? The Supply of New Recorded Music Since Napster
NBER Working Paper No. 16882
---- Acknowledgements -----
The title refers to Don McLean's song, American Pie, which chronicled a catastrophic music supply shock, the 1959 crash of the plane carrying Buddly Holly, Richie Valens, and Jiles Perry "The Big Bopper" Richardson, Jr. The song's lyrics include, "I saw Satan laughing with delight/The day the music died." I am grateful to seminar participants at the Carlson School of Management and the WISE conference in St. Louis for questions and comments on a presentation related to an earlier version of this paper. The views expressed in this paper are my own and do not reflect the positions of the National Academy of Sciences' Committee on the Impact of Copyright Policy on Innovation in the Digital Era or those of the National Bureau of Economic Research.