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Hendrik Sonnabend

This chapter identifies different pricing styles in markets for cultural goods and services. These are extremely diverse, ranging from auctions and discriminatory pricing to voluntary payments. Further, these pricing policies are strongly affected by the economic environment and the type of good for sale. The uniform pricing puzzle in cultural markets is extensively discussed. Some original research on price determination for collectible good is presented. The chapter also examines the economic rationale for dynamic pricing, which has become increasingly popular and controversial. The emergence of new technologies for delivery of cultural products is addressed in an analysis of price determination in the streaming market. In terms of other modern developments, the chapter also examines areas where there may seem to be elements of altruistic activity from consumers themselves in such things as willingness-to-pay schemes, voluntary payment in general, and the use of crowdfunding.