nep-cul New Economics Papers
on Cultural Economics
Issue of 2016‒11‒20
four papers chosen by
Roberto Zanola
Università degli Studi del Piemonte Orientale

  1. Household Decisions on Arts Consumption: How Men Can Avoid the Ballet By Caterina Adelaide Mauri; Alexander Wolf
  2. Market Evolution, Bidding Strategies, and Survival of Art Dealers By Dakshina Garfield De Silva; Marina Gertsberg; Rachel Pownall
  3. Does the 4th estate deliver? Towards more direct measure of political media bias By Dewenter, Ralf; Dulleck, Uwe; Thomas, Tobias
  4. Does Reality TV Induce Real Effects? A Response to Jaeger, Joyce, and Kaestner (2016) By Kearney, Melissa S.; Levine, Phillip B.

  1. By: Caterina Adelaide Mauri; Alexander Wolf
    Abstract: The literature on drivers of cultural consumption has shown that in addition to such factors as age, income and education, spousal preferences and characteristics are important in deter- mining how much and which cultural goods are consumed. Gender differences in preferences in arts consumption have also been shown to be important and persist after accounting for class, education and other socio-economic factors (Bihagen and Katz-Gerro, 2000). This paper explores to what extent this difference in preferences can be used to shed light on the decision process in multi-person households. Based on relatively recent theoretical developments in the literature on household decision making, we use three different so-called distribution factors to infer whether changes in the relative bargaining power of spouses induce changes in arts consumption. Using a large sample from the US Current Population Survey which includes data on the frequency of visits to various categories of cultural activities, we regress attendance rates on a range of socio-economic variables using a suitable count data model. We find that attendance by men at events such as the opera, ballet and other dance performances, which are more frequently attended by women than by men, show a significant influence from the distribution factors. This significant effect persists irrespectively of which distribution factor is used. We conclude that more powerful men tend to participate in these activities less frequently than less powerful men, conditionally on a host of controls notably including hours worked.
    Date: 2016–11
  2. By: Dakshina Garfield De Silva; Marina Gertsberg; Rachel Pownall
    Abstract: We show the value of expertise during the evolution of a market characterized by asymmetric information. Using a unique historical data set, we show how market dynamics encourage entrants. Our results provide evidence that better informed dealers pay about 24% more for an artwork of the same quality than less informed dealers. Additionally, our results indicate that informed dealers are more likely to survive in the market. Our evidence supports the conjecture that, in common value auctions, when information asymmetries are present, dealers with better information benefit. These results have important implications for maintaining and sustaining competitive advantage.
    Keywords: Auctions, Bidding, Art Dealers, Market Evolution, Common value
    JEL: C57 D44 Z11 D47
    Date: 2016
  3. By: Dewenter, Ralf (Helmut Schmidt University, Hamburg); Dulleck, Uwe (Queensland University of Technology); Thomas, Tobias (Heinrich-Heine-Universität Düsseldorf)
    Abstract: This contribution introduces a new direct measure of political media bias by analyzing articles and newscasts with respect to the tonality on political parties and politicians. On this basis we develop an index sorting the media in the political left to right spectrum. We apply the index to opinion-leading media in Germany, analysing 7,203,351 reports on political parties and politicians in 35 media outlets from 1988 to 2012. With this approach, in contrast to other indexes, we are able to achieve a more direct and reliable measure of media bias. In addition, we apply the index to study whether the media fulfil their role as the fourth estate, i.e. provide another level of control for government, or whether there is evidence of government capture.
    Keywords: media bias; governmental capture; index
    JEL: C43 D72 L82
    Date: 2016–11–14
  4. By: Kearney, Melissa S. (University of Maryland); Levine, Phillip B. (Wellesley College)
    Abstract: This paper presents a response to Jaeger, Joyce, and Kaestner's (JJK) recent critique (IZA Discussion Paper No. 10317) of our 2015 paper "Media Influences on Social Outcomes: The Impact of MTV's 16 and Pregnant on Teen Childbearing." In terms of replication, those authors are able to confirm every result in our paper. In terms of reassessment, the substance of their critique rests on the claim that the parallel trends assumption, necessary to attribute causation to our findings, is not satisfied. We present three main responses: (1) there is no evidence of a parallel trends assumption violation during our sample window of 2005 through 2010; (2) the finding of a false placebo test result during one particular earlier window of time does not invalidate the finding of a discrete break in trend at the time of the show's introduction; (3) the results of our analysis are robust to virtually all alternative econometric specifications and sample windows that JJK consider. We conclude that this critique does not pose a serious threat to the interpretation of our 2015 findings. We maintain the position that our earlier paper is informative about the causal effect of 16 and Pregnant on teen birth rates.
    Keywords: teen childbearing, media
    JEL: J13 L82
    Date: 2016–10

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