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on Cultural Economics |
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Issue of 2021‒05‒31
five papers chosen by Roberto Zanola Università degli Studi del Piemonte Orientale |
| By: | Borowiecki, Karol Jan (Department of Business and Economics) |
| Abstract: | Teachers and mentors in creative fields ranging from scientific research to the arts may shape their students' skills and views of the craft, and in turn the work they produce. How significant is this influence, how long does it last, and are there consequences for the variety and quality of students' inventive output? We study these questions in the context of Western music composition over five centuries, a historically important cultural institution, and in a setting where composers' musical lineage is well-documented, the content of their work can be directly compared, and its lasting value can be measured. We find strong evidence of influence, document when it arises and persists, and evaluate its consequences. The results provide insight into the production of creative or intellectual output, specifically around questions of where ideas come from, why certain ideas get produced as opposed to others, and what the ramifications might be. |
| Keywords: | Teacher influence; creativity; cultural transmission; transmission of ideas; music history |
| JEL: | I21 J24 N30 O31 Z11 |
| Date: | 2021–05–25 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:sdueko:2021_005&r= |
| By: | Philip Ramirez (Department of Economics, University of Reading); J. James Reade (Department of Economics, University of Reading); Carl Singleton (Department of Economics, University of Reading) |
| Abstract: | Bookmakers sell claims to bettors that depend on the outcomes of professional sports events. Like other financial assets, the wisdom of crowds could help sellers to price these claims more efficiently. We use the Wikipedia profile page views of professional tennis players involved in over ten thousand singles matches to construct a buzz factor. This measures the difference between players in their pre-match views relative to the usual numbers they received over the previous year. The buzz factor significantly predicts mispricing by bookmakers. Using this fact to forecast match outcomes, we demonstrate that a strategy of betting on players who received more pre-match buzz than their opponents can generate substantial profits. These results imply that sportsbooks could price outcomes more efficiently by listening to the buzz. |
| Keywords: | Wisdom of crowds, Betting markets, Efficient Market Hypothesis, Forecast efficiency,Professional tennis |
| JEL: | G14 G41 L83 |
| Date: | 2021–05–23 |
| URL: | http://d.repec.org/n?u=RePEc:rdg:emxxdp:em-dp2021-10&r= |
| By: | Furmaco, L. (Department of Economics and the Murphy Institute, Tulane University, IZA, GLO); Longley, N. (Department of Business, Nevada State College); Palermo, A. (Institute for Labour Law and Industrial Relations in the European Union); Rossi, G. (University of Birkbeck, London) |
| Abstract: | We investigate whether employees vary their performance during fixed-term contracts. We follow National Hockey League players’ performance over ten seasons. We use a two-stage least square fixed effect model to address empirical limitations in previous studies. We find that players’ performance varies at the end of the contract depending on ability, tenure, and (geographical) willingness to move. In particular, long-tenure and low-ability short-tenure workers vary their performance, depending on their continent of origin; these results might be due to different willingness to move, at different stages of players’ career. |
| Keywords: | fixed-term contracts, incentives, shirking behavior, strategic behavior |
| JEL: | D82 J24 J33 M52 Z22 |
| Date: | 2021–05 |
| URL: | http://d.repec.org/n?u=RePEc:tul:wpaper:2107&r= |
| By: | Giuliano, Paola |
| Abstract: | This paper reviews the literature on gender and culture. Gender gaps in various outcomes (competitiveness, labor force participation, and performance in mathematics, amongst many others) show remarkable differences across countries and tend to persist over time. The economics literature initially explained these differences by looking at standard economic variables such as the level of development, women's education, the expansion of the service sector, and discrimination. More recent literature has argued that gender differences in a variety of outcomes could reflect underlying cultural values and beliefs. This article reviews the literature on the relevance of culture in the determination of different forms of gender gap. I examine how differences in historical situations could have been relevant in generating gender differences and the conditions under which gender norms tend to be stable or to change over time, emphasizing the role of social learning. Finally, I review the role of different forms of cultural transmission in shaping gender differences, distinguishing between channels of vertical transmission (the role of the family), horizontal transmission (the role of peers), and oblique transmission (the role of teachers or role models). |
| Keywords: | Culture; Gender; Social norms |
| JEL: | A13 J16 Z1 |
| Date: | 2020–08 |
| URL: | http://d.repec.org/n?u=RePEc:cpr:ceprdp:15185&r= |
| By: | J. James Reade (University of Reading); Jan C. van Ours (Erasmus University Rotterdam) |
| Abstract: | We analyze attendance of professional football matches in England finding that it is related to unemployment over a very long period of time. More unemployment leads to lower attendances. Distinguishing between leagues, we find that the relationship is larger for lower leagues, i.e. attendance of lower quality football events are more sensitive to fluctuations in unemployment. |
| Keywords: | Stadium attendance, football, unemployment |
| JEL: | C23 Z21 D12 |
| Date: | 2021–05–24 |
| URL: | http://d.repec.org/n?u=RePEc:tin:wpaper:20210048&r= |