nep-cul New Economics Papers
on Cultural Economics
Issue of 2018‒10‒29
three papers chosen by
Roberto Zanola
Università degli Studi del Piemonte Orientale

  1. Liberalizing Art Evidence on the Impressionists at the end of the Paris Salon By Federico Etro; Silvia Marchesi; Elena Stepanova
  2. Fame as an Illusion of Creativity: Evidence from the Pioneers of Abstract Art By Mitali, Banerjee; Ingram, Paul L.
  3. Publishing and Promotion in Economics: The Tyranny of the Top Five By Heckman, James J.; Moktan, Sidharth

  1. By: Federico Etro; Silvia Marchesi; Elena Stepanova
    Abstract: We analyze the Paris art market between the government-controlled Salon as a centralized organization of art exhibition and the system liberalized by the Republican government based on competition between independent exhibitions. The jury of the old Salon decided on submissions with a bias toward conservative art of the academic insiders, reducing demand for the outsiders, as confirmed by the impact on prices of the acceptance of Impressionists. With a difference-in difference estimation we provide evidence that the end of the government-controlled Salon in 1880 started the increase of the prices of the Impressionists relative to the insiders.
    Keywords: Art market; Market structure; Insider-Outsider; Hedonic regressions; Impressionism
    JEL: C23 Z11
    Date: 2018–10–22
  2. By: Mitali, Banerjee (HEC Paris - Strategy & Business Policy); Ingram, Paul L. (Columbia Business School - Management)
    Abstract: We build a social structural model of fame, which departs from the atomistic view of prior literature where creativity is the sole driver of fame in creative markets. We test the model in a significant empirical context: 90 pioneers of the early 20th century (1910–25) abstract art movement. We find that an artist in a brokerage rather than a closure position was likely to become more famous. This effect was not, however, associated with the artist’s creativity, which we measured using both objective computational methods and subjective expert evaluations, and which was not itself related to fame. Rather than creativity, brokerage networks were associated with cosmopolitan identities—broker’s alters were likely to differ more from each other’s nationalities--and this was the key social-structural driver of fame.
    Keywords: fame; creativity; identity; creative markets; social networks; social structure
    JEL: Z11
    Date: 2018–08–01
  3. By: Heckman, James J. (University of Chicago); Moktan, Sidharth (University of Chicago)
    Abstract: This paper examines the relationship between placement of publications in Top Five (T5) journals and receipt of tenure in academic economics departments. Analyzing the job histories of tenure-track economists hired by the top 35 U.S. economics departments, we find that T5 publications have a powerful influence on tenure decisions and rates of transition to tenure. A survey of the perceptions of young economists supports the formal statistical analysis. Pursuit of T5 publications has become the obsession of the next generation of economists. However, the T5 screen is far from reliable. A substantial share of influential publications appear in non-T5 outlets. Reliance on the T5 to screen talent incentivizes careerism over creativity.
    Keywords: tenure and promotion practices, career concerns, economics publishing, citations
    JEL: A14 I23 J44 O31
    Date: 2018–10

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