That blank space in the Price field

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diplipito
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That blank space in the Price field

Postby diplipito » Mon Oct 01, 2007 9:57 am UTC

Hello everyone,

I wasn't sure where to post this (it could have gone in "Music" maybe), anyway take it as a puzzle but be aware that I don't have the solution - and probably there isn't one only.

Briefly. Radiohead have made a new record (finally! It's called "In Rainbows). They have no deal with any label, so they will just let people order it via their website (http://www.radiohead.com).
There are two options. You can buy the "discbox" (basically a huge and luxury set comprising the cd and a lot of additional material) for £40; or the download of the cd. The price of the download is up to you.

I was wondering what price should I type in - assuming I want to pay a fair price.

I guess this price will depend on the subjective willingness to pay, so I don't expect from you any actual amount, but rather a formula for calculating it.

So the question is: how much would you pay for a record you want to buy, if you can decide the price and want to be fair?

Thanks.
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skeptical scientist
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Re: That blank space in the Price field

Postby skeptical scientist » Mon Oct 01, 2007 11:42 am UTC

I would probably pay min(my willingness to pay, standard market price for a comparable item).
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diplipito
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Re: That blank space in the Price field

Postby diplipito » Mon Oct 01, 2007 11:45 am UTC

This implies that the standard market price is a fair price, which - especially in this industry - may be questionable. Anyway a good solution.
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MFHodge
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Re: That blank space in the Price field

Postby MFHodge » Mon Oct 01, 2007 4:27 pm UTC

Here's my take:
Imagine that you have a friend that has never heard of Radiohead, but you think would like the music. Since you respect the band and their intellectual property, you would rather buy your friend a legit copy of the album, rather than just make a copy. But only if the CD is reasonably priced. If it's more than _____, then fuck 'em - you bought one copy and that should be enough to cover you for sharing with a friend.

You should pay whatever fills in that blank. My gut feeling is that $6 is about right. But that's just me.
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diplipito
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Re: That blank space in the Price field

Postby diplipito » Mon Oct 01, 2007 4:48 pm UTC

:-) Cool... But I expected something like

AverageMarketPrice*(1 - LabelGrossMargin)*(PersonalArtistValueParameter)

or

PersonalArtistValue - (CostOfCdCase + CostOfCdR + CostOfColourPrint)

...some nerd things like that, from this forum. Come on.

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DrStalker
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Re: That blank space in the Price field

Postby DrStalker » Tue Oct 02, 2007 12:10 am UTC

On one hand, past Radiohead CD's I've bought have all been $30+ because that's how much the Australian music industry screws us over. **** em. I'll take this for free.

On the other hand I like Radiohead's music, and I appreciate them looking into alternate delivery methods that support mmodern culture.

And finally, it's hard to judge an appropriate price for music I've never heard; how can I possibly make an informed decision?

So I'll download for $0, then go back later and pay what I decide it's worth. Except that will ruin their stats on what people pay.

So I'll get pirate copies of something I could get legitimately for free, then I'll pay for it. And if I couldn't get it for free I'd probably not pay for it. It's all very zen. :-)
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umbrae
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Re: That blank space in the Price field

Postby umbrae » Tue Oct 02, 2007 12:32 am UTC

Things I think you have to take into account, in order:

Positives:
Song Value (if you've heard it already, and you like it a lot, you'll probably be willing to pay more)
Artist Value (if you previously like the artist)
Download Value (Don't gotta go buy it from a store)
FuckTheSystem Value (If you don't like the industry, you'll probably be more willing to pay a premium.)

Negatives:
No Wrapper - they don't have to pay for production of the physical CD
No Marketing - they haven't marketed this thing at all, and have not had to pay for it
No Labels - A good thing, but they don't get a cut so the average person might feel like they should take that off the top.

Turning these values into a fixed amount that represents dollar amount is hard. But that's what I'd see in it.

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pernero
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Re: That blank space in the Price field

Postby pernero » Tue Oct 02, 2007 2:04 am UTC

Also consider that you're getting the same CD whether you pay 1$ or 1000000$
But since Radiohead is my favorite band, I would go 15$, or 7 pounds.

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Re: That blank space in the Price field

Postby evilbeanfiend » Tue Oct 02, 2007 1:42 pm UTC

i believe there is a 45c charge to cover transaction costs over the price you pick as well
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Re: That blank space in the Price field

Postby wannabe » Wed Oct 03, 2007 4:02 pm UTC

Put the shoe on the other foot.

If you gave Radiohead a blank check, what is the highest $ amount you could get see on your bank statement and not be pissed. Say $18. Now, what is the highest number you could see and still think wow, those guys were generous? Say $9. Use your numbers and take an average.
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genewitch
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Re: That blank space in the Price field

Postby genewitch » Thu Oct 11, 2007 11:57 am UTC

I would go with 50 american cents per track, since that's what i get paid for my music per download. Plus whatever overheard they charge (45 cents?).
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Strilanc
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Re: That blank space in the Price field

Postby Strilanc » Fri Oct 12, 2007 7:02 am UTC

You should download it, then decide what you would have paid for it based on the quality.

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Re: That blank space in the Price field

Postby __Kit » Fri Oct 12, 2007 8:05 am UTC

...ONE MILLION DOLLARS!
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