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on Cultural Economics |
| By: | Spierdijk, Laura (Dept. of Econometrics, University of Groningen); Voorneveld, Mark (Dept. of Economic Statistics, Stockholm School of Economics) |
| Abstract: | We provide three points of critique to the empirical analysis of Chung and Cox (1994, this Review) on the superstar phenomenon. They use a stochastic model which indicates that superstars may exist regardless of talent and that gives rise to the Yule distibution. Using a parametric bootstrap and several powerful test statistics, we find overwhelming evidence against the Yule distribution. The Yule distribution seems a fairly accurate approximation of the lower quantiles of the empirical distribution, but puts too much weight in the right tail of the distribution: it can model stardom, but fails to model superstardom. |
| Keywords: | Superstardom; Yule distribution |
| JEL: | J31 L82 Z11 |
| Date: | 2007–04–25 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:hastef:0658&r=cul |
| By: | Malte Heyne (University of Bremen); Wolfgang Maennig (University of Hamburg); Bernd Süssmuth (Munich University of Technology) |
| Abstract: | This paper tests the hypothesis that a nation’s hosting of a mega-sporting event is an experience good for its residents. Applying data from an ex-ante and ex-post query based on contingent valuation methods, we use the Soccer World Cup 2006 as a natural experiment. The significant ex-post increase in valuation is shown to be due to adventitious citizens requiring an involving experience, rather than to an updating of a-prior assessment. |
| Keywords: | Experience goods, contingent valuation method, World Cup |
| JEL: | L83 Q26 H49 |
| Date: | 2007–04 |
| URL: | http://d.repec.org/n?u=RePEc:spe:wpaper:0706&r=cul |
| By: | Gabriel Ahlfeldt (University of Hamburg); Wolfgang Maennig (University of Hamburg) |
| Abstract: | This paper develops a hedonic price model explaining standard land values in Berlin. The model assesses the impact of three multifunctional sports arenas situated in Berlin-Prenzlauer Berg which were designed to improve the attractiveness of their formerly deprived neighbourhoods. Empirical results confirm expectations about the impact of various attributes on land values. Sports arenas have significant positive impacts within a radius of about 3000 meters. The patterns of impact vary, indicating that the effective impact depends on how planning authorities address potential countervailing negative externalities. |
| Keywords: | Stadium Impact, Land Gradient, Hedonic Regression, Spatial Autocorrelation, Berlin |
| JEL: | L83 R31 R53 R5 |
| Date: | 2007–04 |
| URL: | http://d.repec.org/n?u=RePEc:spe:wpaper:0703&r=cul |