Patreonomics: Public goods pedagogy for economics principles

A principles of economics course presents educators with an opportunity to connect with large numbers of students from diverse educational backgrounds and majors. This diversity, however, often makes it challenging for instructors to identify pedagogical examples that are relatable to the majority of their students. In this study, we present a timely and engaging example of a public good: Patreon music creations. Patreon is an Internet company that offers an outlet for musicians to share their YouTube-based music creations with their fans. We define and illustrate the characteristics that make these musical creations public goods, explaining also how fans willingly support these creations from a financial standpoint. This study provides educators with a unique real-world example that principles of economics students will find interesting, relatable, and educational.