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Hierarchical structure in phonographic market

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  • Andrzej Buda

Abstract

I find a topological arrangement of assets traded in a phonographic market which has associated a meaningful economic taxonomy. I continue using the Minimal Spanning Tree and the Life-time Of Correlations between assets, but now outside the stock markets. This is the first attempt to use these methods on phonographic market where we have artists instead of stocks. The value of an artist is defined by record sales. The graph is obtained starting from the matrix of correlations coefficient computed between the world's most popular 30 artists by considering the synchronous time evolution of the difference of the logarithm of weekly record sales. This method provides the hierarchical structure of phonographic market and information on which music genre is meaningful according to customers.

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  • Andrzej Buda, 2011. "Hierarchical structure in phonographic market," Papers 1105.6265, arXiv.org.
    • Handle: RePEc:arx:papers:1105.6265
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    1. Mantegna,Rosario N. & Stanley,H. Eugene, 2007. "Introduction to Econophysics," Cambridge Books, Cambridge University Press, number 9780521039871, October.
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