nep-cul New Economics Papers
on Cultural Economics
Issue of 2015‒04‒02
five papers chosen by
Roberto Zanola
Università degli Studi del Piemonte Orientale “Amedeo Avogadro”

  1. Art Critic Index: A Proxy for Cultural Value in the Context of the South Africa Art Market By Matthew Olckers, Catherine Kannemeyer and Michael Stevenson
  2. Entry of Painters in the Amsterdam Market of the Golden Age By Federico Etro; Elena Stepanova
  3. Symbols of the handkerchief in Turkish Culture By Ahu Fatma MANGIR
  4. Cultural planning in two cities of the Czech Republic By Markéta Poláková; VÄ›ra PatoÄková; KateÅ™ina Vojtíšková
  5. The evolution of theatre attendance in Italy: patrons and companies By Castiglione, Concetta; Infante, Davide

  1. By: Matthew Olckers, Catherine Kannemeyer and Michael Stevenson
    Abstract: This study creates a proxy for cultural value by constructing an Art Critic Index (ACI). Cultural value is a distinct and alternative concept of value that is used to understand the art market. The ACI is formed by analysing survey books on South African art. Using a hedonic regression model a positive relationship is found between the ACI and art prices. Further, certain outliers in the ACI against price relation are in line with the understanding of the relationship between cultural and economic value. The paper concludes that the ACI is a suitable proxy for cultural value but it is not without significant criticisms. The lack of variability in the index between artists and between artworks by the same artist is the major area of concern.
    Keywords: Cultural value, South African art market
    JEL: Z11 D46
    Date: 2015
  2. By: Federico Etro (Department of Economics, University Of Venice Cà Foscari); Elena Stepanova (Department of Economics, Sant’Anna School of Advanced Studies, Pisa)
    Abstract: We analyze the evolution of the price of paintings in the XVII century Amsterdam art market to test a hypothesis of endogenous entry: higher probability should attract more entry of painters, which in turn should lead to artistic innovations and more intense competition. We build a price index for the representative painting inventoried in Dutch houses through hedonic regressions controlling for characteristics of the paintings (size, genre, placement in the house), the owners (job, religion, value of the collection, size of the house) and the painters. After a peak at the beginning of the century, the real price of paintings decreases until the end of the century: we provide anecdotal evidence for which high initial prices attracted entry of innovators, and econometric evidence on the causal relation between price movements and entry of painters. The time series analysis supports the idea for which increasing prices attracted entry of innovative painters.
    Keywords: Art market, Endogenous entry, Dutch Golden Age, Hedonic prices, VAR analysis
    JEL: Z11 N0 D4
    Date: 2015
  3. By: Ahu Fatma MANGIR (Selçuk University)
    Abstract: Accepted as cultural value, the handkerchief which was introduced into Anatolia from Central Asia has still persisted its importance as both functional and symbolic meanings. Even it has been known and used since B.C., introduction of the handkerchief in Turkish life based on Central Asia with the evidence of images in stones belonging to century.The handkerchief has introduced in Turkish culture as metarial item and several symbolic meanings and these symbols which has been still continued in our times can be understood due to the different usage of the handkerchief. It has been also used as communitacation tool for the people’s feelings, emotions and thought. They all have been expressed through the handkerchief.The handkerchief which was seen in Central Asia with the evidence of images in stones, balbals and miniature has been persisted its existence as a part of Turkish culture. The portrait of Turkish Rulers with smelling a rose in one hand and holding a handkerchief in the other were drawn traditionally. Especially, the handkerchief became essential part of those portrate of Ottoman Empires. In this study, the cultural and symbolic functions of handkerchief will be studied and the importance of the handkerchief in Turkish culture will be explanied.
    Keywords: Handkerchief, Symbol, Culture, Symbols of the reign
    JEL: Z00 Z00
    Date: 2014–10
  4. By: Markéta Poláková (The Institute of Sociology of the Czech Academy of Sciences); VÄ›ra PatoÄková (The Institute of Sociology of the Czech Academy of Sciences); KateÅ™ina Vojtíšková (The Institute of Sociology of the Czech Academy of Sciences)
    Abstract: According to the Committee on culture of the world association of United Cities and local Governments and its document “Agenda 21 for culture†(2004), culture should be considered as one of the four pillars of sustainable development on an equal footing with the others. This paper will focus on the process of developing cultural planning process in two small and medium sized towns (Louny and DÄ›Äín) situated in the northwest part of the Czech Republic. We conceive a cultural planning as an integrated planning process based on thorough understanding of local cultural resources and effective use of the cultural potential of the area. The benefits of the culture for the individual and the community place identification are widely recognized. In two mentioned towns the authors carried out an action research characterized by a tight connection between the researchers and the local self-governement and other local participants, which strives to find a common solution how to encourage the development of culture and use its potential for strengthening of local communities and tourism. The aim of the partnership was to analyse and discuss the role of culture and mutual cooperation among actors from different sectors in two towns, identify the local cultural resources, to raise engagement and participation of residents in planning procedures, and – in consequence – to contribute to the change of perception of planning techniques. Throughout the process we emphasize the importance of partnership with (among) local actors and community, which enables the stakeholders to understand better the needs of diverse groups and can make an effective and sustainable planning of culture in the city. The opportunity to participate directly on the planning process, increase responsibility of local actors for the implementation of the plan, as well as increase their identification with the town and region.
    Keywords: culture, planning, sustainable development, community, partnership
    Date: 2014–12
  5. By: Castiglione, Concetta; Infante, Davide
    Abstract: This paper examines the Italian theatre market from both the demand and supply side. The descriptive analysis shows that the Italian theatre market is, mainly, localized in the Northern and Central Italian regions for both patrons and companies, confirming a cultural divide between the Southern and the rest of the Italian regions also in the theatrical sector. Like many other European countries, the performing arts in Italy are subsided by public funds through the so-called Fondo Unico per lo Spettacolo (FUS), thereby influencing theatre performance and attendance. As expected, the distribution of the FUS follows the localization of the theatrical companies. The empirical analysis is conducted using 34-year panel data (1980-2013) for the 20 Italian regions. By applying the seemingly unrelated regression (SUR) estimation technique, we identify the factors influencing theatre demand and supply. The estimated results confirm as determinants of theatre demand, price and consumer income and additionally, cultural capital (proxied by education), substitute goods (such as cinema) and other contextual factors (such as tourists flows and territorial area). In contrast, theatre supply is influenced by income, previous historical attendance, theatrical employment, and other contextual factors linked to territorial and public subsidies.
    Keywords: Theatre demand, theatre supply, panel data, SUR, Italy
    JEL: C23 D12 Z10
    Date: 2014–09–29

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