Economics, they say, can explain (almost) everything. In this paper, we argue that with a little help from its friends ?that is, borrowing a few insights from psychology and sociology ?economics can explain also why certain rock bands have had more success than others. We argue that the two most successful rock bands of all times in terms of album sales ?Led Zeppelin and Pink Floyd ?have both relied on an e¢ cient internal organization in which productive tasks were allocated according to the principle of comparative advantage. We also note that e¢ cient organizational structures are di¢ cult to achieve and to maintain in the case of rock bands. Finally, we suggest that our analysis yields valuable insights for the study of the internal organization of productive teams without a pre-ordained hierarchical structure.
"I wish someone help me write this song"; or, the efficient allocation of resources in rock bands
BALESTRINO, ALESSANDRO;
2011-01-01
Abstract
Economics, they say, can explain (almost) everything. In this paper, we argue that with a little help from its friends ?that is, borrowing a few insights from psychology and sociology ?economics can explain also why certain rock bands have had more success than others. We argue that the two most successful rock bands of all times in terms of album sales ?Led Zeppelin and Pink Floyd ?have both relied on an e¢ cient internal organization in which productive tasks were allocated according to the principle of comparative advantage. We also note that e¢ cient organizational structures are di¢ cult to achieve and to maintain in the case of rock bands. Finally, we suggest that our analysis yields valuable insights for the study of the internal organization of productive teams without a pre-ordained hierarchical structure.I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
