Tuesday, October 02, 2007

Radiohead members should start PhDs in Experimental Economics

... because their recent idea makes for a super interesting experiment; we have all very high hopes :-). So go and download their latest album, "In Rainbows". Really no scam: it's all up to you, you can pay as much as you want (for the download version). Got the exciting news via via Greg Mankiw.

2 comments:

Dan Anghel said...

1,2 million downloads at an average of 8 dollars per album. Fair price, I might say:)

link

Sebi Buhai said...

This is indeed a succesful experiment, then (again: they should start a PhD in Experimental Economics: they just proved the point that their buyers have, on average, a sense of fairness and loyalty :-). And as your linked article from Le Figaro points out, this should be just the beginning: the whole industry is changing, the first-movers will have most to profit from it.