NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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Quality Predictability and the Welfare Benefits from New Products: Evidence from the Digitization of Recorded Music

Luis Aguiar, Joel Waldfogel

NBER Working Paper No. 22675
Issued in September 2016

---- Acknowledgments ----

We are grateful for comments from Avi Goldfarb and Ajay Agrawal, as well as seminar participants at the IPTS, Minnesota, the Society for Economic Research on Copyright Issues, the Summer Institute on Competitive Strategy at Berkeley, the NBER Summer Institute joint IO/Digitization meeting, the Econometric Society Meetings in Minneapolis, the 12th Conference on Media Economics in Naples, the 13th ZEW Conference on ICTs in Mannheim, the 8th ICT Conference in ParisTech, Penn State, the University of Michigan, Yale University, Stanford GSB, the University of Zurich, and Universidad Carlos III de Madrid. All remaining errors are ours. Disclaimer: The views expressed are those of the authors and do not necessarily reflect the official opinion of the European Commission or the EC Joint Research Center, nor do they necessarily reflect the views of the National Bureau of Economic Research.

---- Disclosure of Financial Relationships for Joel Waldfogel ----

One author of this paper, Luis Aguiar, works for the IPTS. The other author, Joel Waldfogel, has received financial support from the IPTS.

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