The Role of Copyright Collectives in Web 2.0 Music Markets
The flow of P2P is not under control. The laws of physics that applied to the sale of physical copies of records, CDs and the like do not seem to apply to the Internet, which seems counterintuitive to market experts trying to apply traditional rules such as scarcity of supply. There is no scarcity of supply here. Nor are traditional laws of pricing of physical goods directly applicable because the market for authorized music is competing with “free.” What is needed is a shift similar to “quantum market economics” for the music industry.
Daniel J. Gervais. "The Role of Copyright Collectives in Web 2.0 Music Markets" WIPO/Vanderbilt Law School Conference of Collective Management. Nashville. Oct. 2007.
Available at: http://works.bepress.com/daniel_gervais/11