Digital downloads and illegal file sharing signal a need for the music industry to adopt a new business strategy. But the jury is still out on how artists and labels can profit in a world where consumer preferences have fundamentally changed.
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Liebowitz, Stan J. “Economists Examine File Sharing and Music Sales.” In Gerhard Illing and Martin Peitz, (eds.), Industrial Organization and the Digital Economy. Cambridge, Mass: MIT Press, 2006, pp. 145-174.
Rob, Rafael, and Joel Waldfogel. “Piracy On The High C's: Music Downloading, Sales Displacement, and Social Welfare In A Sample Of College Students.” Journal of Law and Economics, April 2006, vol. 49, no. 1, pp. 29-62.
Oberholzer-Gee, Felix, and Koleman Strumpf . “The Effect of File Sharing on Record Sales: An Empirical Analysis.” Journal of Political Economy February 2007, vol. 115, no. 1, pp. 1-42.
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