The music industry has repeatedly expressed concerns over online music sharing activity and its potentially devastating impact on revenues. Until recently, attempts to control online file-sharing have been primarily through consumer education and legal action against the operators of networks...

Music is an information good, and more specifically, an experience good, whose true value is realized only after its consumption. At its fundamental form, artists create (or produce) the music that consumers pay to listen. Digital technologies and network based sharing/distribution mechanisms...