I just wanted to add the impact of the ‘net on opportunity costs: once upon a time a fan had to make a decision about which music to spend their limited dollar on. “Do I buy the latest album from band A or band B, both of which I love” – that sort of thing. The opportunity cost was that they might never buy band B’s album because by the time they had more money to spend, band C had also released a new album …

But in this age, they can have it all for almost nothing, if they want to. This is a major reduction in opportunity costs for fans … if you assume the attention scarcity is insignificant (which it isn’t) and parity in the love reward in that the fan doesn’t feel guilty about helping themselves to the music they love … it’s a temptation, anyway.

I also have some thoughts about the information reward but I’ll think about them a bit harder before posting.