Article
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A Utility Function for the Music Consumer Based on Emotions
Version 1
: Received: 5 March 2024 / Approved: 5 March 2024 / Online: 6 March 2024 (10:13:58 CET)
How to cite: Lugos Abarca, J.A. A Utility Function for the Music Consumer Based on Emotions. Preprints 2024, 2024030293. https://doi.org/10.20944/preprints202403.0293.v1 Lugos Abarca, J.A. A Utility Function for the Music Consumer Based on Emotions. Preprints 2024, 2024030293. https://doi.org/10.20944/preprints202403.0293.v1
Abstract
The objective of this research is to propose a utility function that calculates the possible level of satisfaction that a music consumer would achieve after listening to a song according to the emotional response obtained from a song. Assuming that the consumer's musical preferences are satisfied if the predominant emotions of his current emotional state increase; the probabilistic emotional-musical model (Lugos Abarca, 2023) is used to construct such a utility function. By posing a hypothetical scenario, realistic results were obtained, which guarantee, in principle, its use in theoretical practice. The originality of this research lies in proposing a mathematical tool to study, quantitatively, the decision making of a musical consumer influenced by his emotions. The main conclusion being its importance in the music industry, since the function could predict, theoretically, whether a song will be accepted or rejected by the consumer in comparison with the competition.
Keywords
Single equation model; mathematical; expected utility theory; probability; neuroeconomics
Subject
Business, Economics and Management, Other
Copyright: This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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