Measuring the impact of rarity on price: evidence from NBA Top Shot

【Author】 Lee, Yeonjoon

【Source】MARKETING LETTERS

【影响因子】3.426

【Abstract】I measure the impact of rarity on price. The main challenge is that usually rarity is positively correlated with quality. In addition, sometimes price also affects rarity. To overcome these difficulties, I study an NBA digital collectibles market called NBA Top Shot where those concerns are well addressed. By analyzing novel and rich data sets, I find that the elasticity of price with respect to circulation (reverse rarity) is -0.74 on average. I also find that less popular products are more elastic than more popular products are.

【Keywords】Rarity; Digital collectibles; NBA Top Shot; Non-fungible tokens; Blockchain

【发表时间】

【收录时间】2022-07-25

【文献类型】实证性文章

【主题类别】

区块链应用-虚拟经济-数字藏品