How much will you pay for the new Radiohead CD? The price is up to you. On The Media talked to economist Tyler Cowen about what Radiohead might expect to net off of their Public Radio style plea for listeners to name their own price for their soon to be released CD.
Tyler's analysis of how the fan's would react to Radiohead's busking was fascinating. A commenter at OnTheMedia.org, Nick, snarkily reminds us that public radio pledge drives are much the same. The decreasing marginal utility of indicating that I am a public radio listener is probably most clearly indicated by the marginal decrease of my pledges over time. The good news is that WNYC's original programs regularly delight my brain and cause me to want to be supportive all over again. Thanks again for injecting substantive analysis into the blogosphere's frequently vacuous echo chamber.
qv: On The Media