nep-cul New Economics Papers
on Cultural Economics
Issue of 2019‒10‒28
five 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. Using Google Trends to Evaluate Cultural Events By Olivier Gergaud; Victor Ginsburgh
  3. Distance Matters: The Impact of Physical and Relative Distance on Pleasure Tourists’ Length of Stay in Barbados By Jackman, Mahalia; Lorde, Troy; Naitram, Simon; Greenaway, Tori
  5. Reputation and news suppression in the media industry By Ascensión Andina-Díaz; José A. García-Martínez

  1. By: Federico Etro; Silvia Marchesi; Elena Stepanova
    Abstract: We analyze the art market in Paris between the government-controlled Salon as a centralized organization for art exhibition and the post-1880 system when the Republican government liberalized art exhibitions. The jury of the old Salon decided on submissions with a bias toward conservative art of the academic insiders, erecting entry barriers against outsiders as the Impressionists. With a difference-in difference estimation, we provide evidence that the end of the government-controlled Salon contributed to start the increase of the prices of the Impressionists relative to the insiders.
    Keywords: Liberalization, Market structure, Insider-Outsider, Hedonic regressions, Impressionism, Art market
    JEL: C23 Z11
    Date: 2019
  2. By: Olivier Gergaud; Victor Ginsburgh
    Abstract: The paper discusses briefly the methods that are used to evaluate ex ante and/or ex post cultural events. We suggest that Google Trends, which is now quite common can also easily be used in this case.
    Keywords: Festivals, European Capital of Culture, Subsidies, Tourism
    Date: 2019–10
  3. By: Jackman, Mahalia; Lorde, Troy; Naitram, Simon; Greenaway, Tori
    Abstract: This paper argues that length of stay is a reflection of the distance between the origin and destination country. Past interpretations of distance premised on spatial aspects. This study extends the dimensional space of distance to include socio-psychological dimensions, climate distance and economic distance. Our empirical analysis utilizes airport data covering over 350,000 pleasure tourists to Barbados from 144 countries. The results suggest that the length of stay of pleasure tourists to Barbados increases with geographic distance, cultural distance and climatic distance, but is inversely related to economic distance. We find no evidence that long-distance relationships (captured by transnational and diasporic relationships) affect tourist length of stay. Implications of these findings are provided.
    Keywords: Length of stay, Distance, Tourism demand, Cultural distance, Climate distance, Linder's hypothesis
    JEL: C13 C23 C51 L83
    Date: 2019–09–06
  4. By: Arthur Mustafin (National Research University Higher School of Economics)
    Abstract: This article uses the records of monastic account books to assess the level of prices in Russia in the second half of the seventeenth and early eighteenth centuries. The data from these books allow us to construct salt and rye price series, and identify prices of other goods for single years. The resulting numbers demonstrate that the prices remained largely unchanged. The exceptions were the mid-1640s and the early 1660s, when the price fluctuations were driven by the failed financial reforms. The available data shows the prices did not change synchronically in Russia and Europe. Our assumption, therefore, is that Russia stood apart from the price revolution of Western Europe in the seventeenth century
    Keywords: price revolution, monastic account books, price lists, price series, Alexei Mikhailovich’s reforms
    JEL: Z
    Date: 2019
  5. By: Ascensión Andina-Díaz (Department of Economics, University of Málaga); José A. García-Martínez (Department of Economics and Finance, University Miguel Hernández)
    Abstract: This paper proposes a new argument to explain why media firms silence information that may be relevant to consumers and why this behavior varies across firms. We build on the literature of career concerns and consider firms that seek to maximize their reputation for high quality. Crucial to our results is the idea that media firms can affect, with their reporting strategy, the probability that consumers learn the true state. Reputational concerns dictate that a monopoly firm suppresses scoops, even when evidence is strong. With competition, precise private information is published but weaker though informative signals are silenced. We obtain that silence is higher in media firms with high levels of initial reputation and/or great social influence. We draw predictions on a firm's optimal choice of an editorial standard, the persistence of news suppression when consumers believe one state to be more likely than another and the possibility that silence may be socially beneficial.
    Keywords: Reputation; news suppression; feedback power; competition; editorial standars; herding; efficiency
    JEL: C72 D82 D83
    Date: 2018–12

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