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Rock and Roll Bands, (In)complete Contracts, and Creativity

Author

Listed:
  • Cedric Ceulemans
  • Victor Ginsburgh
  • Patrick Legros

Abstract

Members of a rock and roll band are endowed with different amounts of creativity. They match, compose songs, and share credit. The presence of more creative members increases the probability of success, but those more creative members may also claim a larger share of the pie. In our theoretical model, the nature of matching as well as the covariation between the probability of success and the allocation of credit among individual members are a function of the completeness of contracting. The data show that rock bands tend to enter into incomplete contracts and positive assortative matching.

Suggested Citation

  • Cedric Ceulemans & Victor Ginsburgh & Patrick Legros, 2011. "Rock and Roll Bands, (In)complete Contracts, and Creativity," American Economic Review, American Economic Association, vol. 101(3), pages 217-221, May.
    • Handle: RePEc:aea:aecrev:v:101:y:2011:i:3:p:217-21
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    File URL: http://www.aeaweb.org/articles.php?doi=10.1257/aer.101.3.217
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    Cited by:

    1. Philip Hans Franses, 2023. "On the life cycles of successful rock bands," Quality & Quantity: International Journal of Methodology, Springer, vol. 57(5), pages 4693-4707, October.
    2. Etienne Farvaque, 2024. "For those about to rock… is stability a determinant of rock bands success?," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 48(1), pages 145-166, March.

    More about this item

    JEL classification:

    • H21 - Public Economics - - Taxation, Subsidies, and Revenue - - - Efficiency; Optimal Taxation
    • K11 - Law and Economics - - Basic Areas of Law - - - Property Law
    • Q20 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - General

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