nep-cul New Economics Papers
on Cultural Economics
Issue of 2019‒12‒16
six papers chosen by
Roberto Zanola
Università degli Studi del Piemonte Orientale

  1. On the Efficiency of Art Markets. Evidence on return rates from old master paintings to contemporary art By Federico Etro; Elena Stepanova
  2. Re-Imagining Digital Copyright Through the Power of Imitation: Lessons from Confucius and Plato By Frosio, Giancarlo
  3. The culture of social media at work place By Juliandi, Azuar
  4. Digital platforms ‘without a cause’: why the impact on a museum organization should not be taken for granted. The case study of Civic Museums in Treviso By Michele Tamma; Stefania Zardini Lacedelli; Silvia Maria Carolo
  5. The Volatility of Survey Measures of Culture and Its Consequences By Zanella, Giulio; Bellani, Marina M.

  1. By: Federico Etro; Elena Stepanova
    Abstract: Return rates should not depend systematically on past prices or the place of sale in efficient art markets. We provide evidence consistent with such hypothesis from repeated sales of Old Master Paintings, Modern art and Contemporary art auctioned worldwide at Christie's and Sotheby's in 2000-2018. We also control for changes in transaction costs (buyers' premiums and artists' resale rights), characteristics of the sale (evening sales, price guarantees and past bought-ins) and news on the lots (changed attributions, public exhibitions or death of the author) that appear reflected in art returns. We confirm the absence of masterpiece effects in American, Chinese and Ethnic art. Finally, using historical data on prices during Renaissance, Baroque and Neoclassical periods, we find evidence that price changes are independent from initial prices also in the long run.
    Keywords: Art market, Mei-Moses index, Market efficiency, Law of one price, Masterpiece effect, Contemporary art
    JEL: C23 Z11
    Date: 2019
  2. By: Frosio, Giancarlo (Strasbourg University)
    Abstract: For millennia, Western and Eastern culture shared a common creative paradigm. From Confucian China, across the Hindu Kush with the Indian Mahābhārata, the Bible, the Koran and the Homeric epics, to Platonic mimēsis and Shakespeare’s “borrowed feathers,” our culture was created under a fully open regime of access to pre-existing expressions and re-use. Creativity used to be propelled by the power of imitation. However, modern policies have largely forgotten the cumulative and collaborative nature of creativity. Actually, the last three decades have witnessed an unprecedented expansion of intellectual property rights in sharp contrast with the open and participatory social norms governing creativity in the networked environment. Against this background, this paper discusses the reaction to traditional copyright policy and the emergence of a social movement re-imagining copyright according to a common tradition focusing on re-use, collaboration, access and cumulative creativity. This reaction builds upon copyright’s growing irrelevance in the public mind, especially among younger generations in the digital environment, because of the emergence of new economics of digital content distribution in the Internet. Along the way, the rise of the users, and the demise of traditional gatekeepers, forced a process of reconsideration of copyright’s rationale and welfare incentives. Scholarly and market alternatives to traditional copyright have been plenty, attempting to reconcile pre-modern, modern and post-modern creative paradigms. Building upon this body of research, proposals and practice, this Article will finally try to chart a roadmap for reform that reconnects Eastern and Western creative experience in light of a common past, looking for a shared future.
    Date: 2018–01–15
  3. By: Juliandi, Azuar (Universitas Muhammadiyah Sumatera Utara)
    Abstract: Internet-based social media has become a part of life of the public society in this era. Many people use Facebook, Whatsapp, LinkedIn, Blogs and other social media to interact to each other. With social media, people exchange information and share experiences in cyberspace. Furthermore, at the present, social media is already becoming a part of the organizational culture in work place. This study aimed to analyze the relationship between the culture of social media and knowledge transfer, the culture of social media and work performance, also of the knowledge transfer and work performance. The research samples consisted of 300 employees in the city of Medan and the data research collection used questionnaires. Meanwhile, the data analysis technique used partial least square. The result of the study indicates that there are significant and positive relationship between the culture of social media and knowledge transfer, the culture of social media and work performance, and the knowledge transfer and work performance.
    Date: 2017–12–05
  4. By: Michele Tamma (Dept. of Management, Università Ca' Foscari Venice); Stefania Zardini Lacedelli (School of Museum Studies, University of Leicester); Silvia Maria Carolo (Dept. of Management, Università Ca' Foscari Venice)
    Abstract: The impact of digital platforms on different areas of the museum practice has been widely explored in museology. What is less clear is to what extent the adoption of digital platforms is connected to strategic choices and if it leads to organizational transformations. The paper addresses this issue through the case study derived from a project coordinated by the Department of Management, Ca’ Foscari University of Venice at the Civic Museums of Treviso. A qualitative study was implemented to explore the impact of the introduction of new digital practices on how the members of the museums conceive the relationship with audiences, the curatorial function and the predominant museum’s modes. The research outcomes show how the adoption of digital platforms can foster a broad reflection upon the underlying values and beliefs that shape behaviours in museum, but this reflection it is not enough in itself to trigger an organizational transformation.
    Keywords: digital platforms, digital practices, museum strategy, organisational change, museum value framework
    Date: 2019–12
  5. By: Zanella, Giulio (University of Adelaide); Bellani, Marina M.
    Abstract: Common measures of cultural attitudes, such as those constructed from the World Values Survey, are characterized by substantial within-country volatility. This volatility is at odds with the notion of culture adopted in economics: a set of slow-moving traits that determine preferences and expectations transmitted from one generation to the next via family or social interactions. The insufficient persistence of survey proxies for such traits may compromise empirical studies of culture as a determinant of economic outcomes. We illustrate this point via a thorough replication, using the most recent WVS waves, of analyses carried out previously for regions in Europe.
    Keywords: World Values Survey, culture, development
    JEL: O12 O43 Z1
    Date: 2019–10
  6. By: Daunfeldt, Sven-Olov (Institute of Retail Economics (Handelns Forskningsinstitut)); Moradi, Jasmine (Space Sonology); Rudholm, Niklas (Institute of Retail Economics (Handelns Forskningsinstitut)); Öberg, Christina (Örebro University)
    Abstract: The effects of in-store music on consumer behavior have attracted much attention in the marketing literature, but surprisingly few studies have investigated in-store music in relation to employees. Conducting a large-scale field experiment in eight Filippa K fashion stores in Stockholm, Sweden, we investigate whether it is beneficial for store owners to give employees more opportunities to influence the in-store music. The experiment lasted 56 weeks, and the stores were randomly assigned into a treatment group and a control group, with the employees in the treatment stores having the opportunity to influence the in-store music through an app developed by Soundtrack Your Brand (SYB). The results from the experiment show that sales decreased by, on average, 6% in treatment stores when employees had the opportunity to influence the music played in the store. Interviews revealed that employees frequently changed songs, preferred to play high-intensity songs, and had diverse music preferences that were not congruent with the brand values of the company. Our results thus imply that employees choose music that suits their preferences rather than based on what is optimal for the store, suggesting that store owners might want to limit their opportunities to influence the background music in stores.
    Keywords: Background music; Brand-fit music; Music tempo; Consumer behavior; Job satisfaction; Atmospheric cues; Work environment; Field experiment
    JEL: C93 D22 L81 M31 M54
    Date: 2019–12–09

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