While the majority of the literature on secondary markets for tickets in the entertainment industry focuses on concerts and sporting events, this study aims to shed light specifically on the music festival resale market. Music festivals have risen in prominence in recent years, particularly among millennials, during the time that the internet has dramatically facilitated the resale of tickets through online marketplaces. With many of the top festivals selling out rapidly, a great deal of music fans turn to secondary markets for tickets. However, very little is known about the behavior of secondary markets for music festivals due to information not being readily available to the public. This study uses demand-side data including transaction prices and quantities acquired from one of the largest online secondary ticket marketplaces to examine market behavior. My findings show that on average, prices decline for music festivals as they approach, but that there are years for certain festivals where this isn’t the case. Other results show that markets for festivals with multiple weekends operate differently and that special artist performances such as band reunions can have a significant positive effect on consumer demand. Lastly, the majority of all ticket sales are found to take place in the final 30 days before music festivals transpire.

Manufacturers use resale price maintenance (RPM) for a variety of reasons. In a conventional market setting, when factory price is fixed, profit is maximized by ensuring the lowest possible retail price. The higher retail price ensured by RPM mean a lower quantity sold, since demand is downward sloping. The explanations of RPM remain controversial after many scholars¡¦ investigations. Pro-competitive arguments view RPM as a marketing practice that ensures an efficient distribution system. Anticompetitive arguments contend that manufacturers use RPM to maintain cartel prices and reduce competition among retailers. Understanding the incentives to adopt RPM is critical both for marketing scholars and for antitrust policymakers because RPM, which is employed over the wide variety of products, is the most important vertical restraints, in terms of both the frequency of use and the number of legal cases generated. In Taiwan, the applicability of RPM is limited by Fair Trade Law. Fair Trade Commission considers that RPM is per se illegal as a vertical restraint against competition The explanation for RPM often cited is the special services argument, which indicates the discounter will draw customers from the retailers that provide full services when RPM is not employed. However, in practices, RPM is used in a much wider variety of products than the special services argument would predict. In this research, we examine the RPM property from the risk perspectives and determine how the incentives for using RPM are affected by the changes of economic variables. We find that the imposition of RPM is appropriate in the circumstances where retail price variance is high, sales quantities variance is low and the correlation between two variables is positive. In addition, we find that RPM can be a substitute or complement for advertising, as is found in the existing literature. Our model clearly exhibits the relationship between advertising and RPM, which are both important marketing strategies. We also find that RPM can reduce consumers¡¦ incentive to delay purchases. As the demand price elasticity increases, RPM is more strictly employed by manufactures who want to eliminate purchase delay caused by frequent markdowns. We also perform empirical tests to show that the motivation behind RPM is to reduce the negative externality of frequent markdowns on consumers¡¦ purchase delay.

No description available.

No description available.

The study aims to gain insights on whether the use of online resale platforms alter the relationship that consumers have with their clothes and how that - as a consequence - leads to a changed consumption pattern. With the awareness of the significance of resale, potentially causing wide-scale industrial changes, the aim is also to examine the possible environmental effects resale can have. In seeking to explain this phenomena, this study undertakes a qualitative research strategy with an abductive approach. The primary data consists of semi-structured in-depth interviews conducted with respondents from a younger consumer group who are or have been frequent users of online resale platforms and holds a noticeable interest in fashion. A thematic analysis was then conducted as a framework to analyse the interview data, resulting in a structure of first order and second order concepts as themes. The findings indicate that the use of resale platforms enables the consumer to engage with garments at a higher level of pace, quantity, and variety. The convenience with which the user can purchase and dispose of garments causes a continuous inflow and outflow of clothes. This - consequently - may call attention to the possible negative environmental effects resale platforms may lead to. This study adds value to the intersection of fields concerning fashion consumption and sustainability.

The American Royalties Too (ART) Act of 2014 is the most recent attempt to create a resale royalty, or droit de suite, for visual artists in America. This would entitle visual artists to collect a royalty payment for sales of their work in the secondary market, specifically sales occurring at public auctions. The droit de suite was created in France in 1920, and is now part of the Berne Convention for the Protection of Literary and Artistic Works, which protects copyrights internationally. The purpose of this paper is to examine the history of droit de suite rights in the United States and abroad, and to analyze the currently proposed ART Act, its limitations, and its potential to create financial benefits for artists.

Purpose – The purpose of this study is to explore the consumer resale behaviour of Millennial consumers in the context of personal luxury goods in order to identify the motivational drivers and barriers of reselling. Prior discussions about resale behaviour have focused on disposition behaviour, the relation of resale behaviour and purchasing, as well as meanings associated with reselling personal luxury goods. Yet, only few studies have approached consumer resale behaviour from the perspective of possessing, thus neglecting the significance of resale barriers. Consequently, this paper aims to provide a comprehensive overview of resale behaviour motivations by exploring the phenomenon from the view of the whole consumption cycle, consisting of purchasing, possessing and disposing. Design/methodology/approach – This research employed a qualitative, exploratory approach, including thematic analysis using empirical data from semi-structured interviews with ten European Millennials. Consumer resale behaviour was examined in the context of personal luxury goods. Findings – Results indicate that personal luxury goods are reluctantly disposed, but chiefly resold when given away. The motivations to resell or not to resell personal luxury items are exhibiting three types of reasoning: utilitarian, hedonic and social motivations. Based on the categorisation of resale drivers and barriers, the authors propose a conceptual model to show the individual motivations. Highly notable is the phase of possession, which has a strong influence on the decision of whether to engage in reselling or not. Originality/value – The paper discusses the relevance of each phase of the consumption cycle when studying consumer resale behaviour motivations. More, it challenges the ‘end of ownership’ approach and suggests luxury brands to consider the weight of possessing if applying such business models.

PROTECTION OF COMPETITION - BLOCK EXEMPTIONS The main purpose of my thesis is to describe and analyze one aspect of a block exemption regulation for vertical agreements, namely resale price maintenance. The thesis is composed of six parts, one of them dealing with block exemptions in general and the rest of them focusing on resale price maintenance. Chapter one introduces the topic of block exemptions and explains the features of block exemptions that are common to all of them. Chapter two presents the definition of resale price maintenance and describes the difference between fixed, minimum, maximum and recommended prices. Chapter three describes economic theories, which have influence on legal treatment of resale price maintenance. The chapter is divided into three subchapters, whereas the first one explicates pro-competitive effects of resale price maintenance, the second one focuses on its anticompetitive effects and the third one summarizes the economic theories of impact of resale price maintenance. Chapter four examines the legal framework of resale price maintenance in European law. Firstly, it describes the treatment of fixed, minimum, recommended and maximum prices. Then it analyzes resale price maintenance as an object restriction and examines possible exemption under Article 101 (1) of...

The field of copyright protection of computer programs and resale of a copy of a computer program is not free of many substantial problems which are even supported by a fast technological development and which will probably soon result in substantial revision of both national and international copyright law. This thesis is to analyze and assess selected aspects of copyright protection of computer programs with main focus on resale of a copy of a computer program in both theoretical area and jurisprudence of European and US-American courts. This thesis reflects jurisprudence of the European Court of Justice, German and Dutch courts and court decision available in the USA. The general introduction in the theme and related issues is followed by a thorough analyze of the jurisprudence, including two decisions of the European Court of Justice in the UsedSoft case and related decisions of German courts, as well as the decision in Vernor vs. Autodesk case, which is relevant for the US-American jurisprudence. With the focus on international legal protection of computer programs, which provides the computer programs with the same protection of literary works, a completely new aspect of copyright protection of the computer programs, which is the relation between the legal regulation of resale of immaterial...

Le droit de suite est né en France à la suite de la prise de conscience de la difficile condition financière des artistes, qui pourtant connaissaient le succès. Ainsi, l’image s’était imposée de la famille de l’artiste qui voyait le prix de ses oeuvres s’envoler, sans pour autant bénéficier de ce gain financier. Les projets pour remédier à ces difficultés se sont multipliés au début du XXème siècle, afin de lutter contre cette injustice. Ce mouvement conduit à la consécration du droit de suite en droit français par la loi du 20 mai 1920, un modèle qui a rayonné à l’étranger. L’Union Européenne, par un intéressant processus de lobbying, a également consacré le droit de suite et le mouvement parait s’étendre. En dépit de cette diffusion et de ce mouvement louable, le droit de suite est toujours aussi critiqué, questionnant dès lors sa légitimité. Ce droit, dont le régime s’est très vite aménagé, est pourtant sans cesse à la recherche d’une réelle justification. / Resale royalty rights came into being in France with the growing awareness of the difficult financial conditions faced by otherwise successful artists. The prevailing image was one of the artist’s family watching the price of his works soar yet with no financial gain for itself. The early 20th century saw increasing numbers of initiatives taken to resolve the difficulties caused by this unfair situation, resale royalty rights becoming enshrined in French law with the law of 20 May, 1920, before subsequently spreading abroad. Through an interesting lobbying process, the European Union has also enshrined resale royalty rights, and the movement appears to be spreading. Despite this laudable movement and its spread, resale royalty rights continue to be criticised, thus bringing their very legitimacy into question. These rights, the system of which was rapidly established, are still in search of a true rationale.