nep-cul New Economics Papers
on Cultural Economics
Issue of 2017‒01‒01
three papers chosen by
Roberto Zanola
Università degli Studi del Piemonte Orientale

  1. Multiobjective optimization model for pricing and seat allocation problem in non profit performing arts organization By Andrea Baldin; Trine Bille; Andrea Ellero; Daniela Favaretto
  2. Quantifying music genius, or Handel on the balance: A scale of musical merit from 1776 By Chrissochoidis, Ilias
  3. Creative Life Cycles: Three Myths By David Galenson

  1. By: Andrea Baldin (Dept. of Management, Università Ca' Foscari Venice); Trine Bille (Dept. of Management, Politics and Philosophy, Copenhagen Business School); Andrea Ellero (Dept. of Management, Università Ca' Foscari Venice); Daniela Favaretto (Dept. of Management, Università Ca' Foscari Venice)
    Abstract: The implementation of Revenue Management (RM) techniques in non profit performing arts organizations presents new challenges compared to other sectors, such as transportion or hospitality industries, in which these techniques are more consolidated. Indeed, performing arts organizations are characterized by a multi-objective function that is not solely limited to revenue. On the one hand, theatres aim to increase revenue from box office as a consequence of the systematic reduction of public funds; on the other hand they pursue the objective to increase its attendance. A common practice by theatres is to incentive the customers to discriminate among themselves according to their reservation price, offering a schedule of different prices corresponding to different seats in the venue. In this context, price and allocation of the theatre seating area are decision variables that allow theatre managers to manage these two conflicting goals pursued. In this paper we introduce a multi-objective optimization model that jointly considers pricing and seat allocation. The framework proposed integrates a choice model estimated by multinomial logit model and the demand forecast, taking into account the impact of heterogeneity among customer categories in both choice and demand. The proposed model is validated with booking data referring to the Royal Danish Theatre during the period 2010-2015.
    Keywords: Multi-objective optimization; Pricing; Seat allocation; Multinomial logit model; Theatre demand
    JEL: M40
    Date: 2016–12
  2. By: Chrissochoidis, Ilias
    Abstract: The December 1776 issue of the "Gentleman's Magazine," flagship of British periodicals, features an item unique in the history of 18th-century music: the "Scale to Measure the Merits of Musicians." It comprises an evaluative chart of two-dozen composers, marking the first quantitative assessment of musical skill. This paper explicates the chart's structure and content, traces its methodology to the founder of modern art criticism Roger de Piles, proposes Charles Burney as its likely author, and places it in the context of a rising music historiography in Britain.
    Keywords: Music,quantification,Handel,Roger de Piles
    Date: 2016
  3. By: David Galenson (University of Chicago)
    Abstract: This paper debunks three persistent myths: that creativity is greatest in youth, that wisdom hinders creativity, and that every discipline has a single peak age of creativity. These myths systematically neglect the achievements of experimental innovators – including such figures as Charles Darwin, Mark Twain, Paul Cézanne, Robert Frost, Virginia Woolf, Frank Lloyd Wright, and Alfred Hitchcock – who develop their work gradually over long periods to arrive at major contributions. Recent research has shown that experimental innovators are greatest late in life, that their wisdom increases their creativity, and that virtually every intellectual domain has great experimental old masters as well as conceptual young geniuses. In a society that devotes as much effort as ours to eliminating such pernicious forms of discrimination as racism and sexism, it is past time to recognize that these myths about creativity make a damaging contribution to ageism.
    Keywords: creativity, innovation, ageism
    Date: 2016

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