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on Cultural Economics |
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Issue of 2024‒09‒16
four papers chosen by Roberto Zanola, Università degli Studi del Piemonte Orientale |
| By: | George Halkos; Panagiotis Stavros Aslanidis; Angelos Plataniotis; Phoebe Koundouri |
| Abstract: | Sustainable development ensures the longevity of civilization by balancing economic growth, environmental protection, and social equity. The present study evaluates cultural heritage assets via a meta-regression analysis function transfer, in which 85 studies were examined that revealed 106 different willingness-to-pay (WTP) values in the period 1995 - 2022. The meta-regression methodology enables the valuation of cultural heritage - tangible and intangible - goods and services, as well as cultural values (e.g. aesthetic, spiritual, symbolic, etc.). The utilization of WTP would enable us to compare the two models (i.e., European and non-European) on how much a citizen would value cultural heritage based on non-market valuation. The results would inform policymakers about the importance of cultural heritage assets in the sustainable development agenda. The empirical findings present that the WTP for the European sample is 37.6� and for the non-European is 60.12�. In essence, the Europeans are influenced mainly by intangible cultural assets, whereas non-Europeans are influenced by oral tradition. Overall, cultural heritage conservation necessitates for proper economic valuation through a holistic approach, in short - the valuation of both tangible and intangible cultural goods and services is imperative for sustainable development. |
| Keywords: | Willingness to pay, Tangible cultural heritage, Intangible cultural heritage, Meta-regression analysis, Benefit transfer, Value transfer |
| JEL: | Z1 Z18 C5 Q53 Q5 |
| Date: | 2024–08–26 |
| URL: | https://d.repec.org/n?u=RePEc:aue:wpaper:2413 |
| By: | Anne-Sophie Radermecker; Koenraad Brosens |
| Abstract: | To counteract the longstanding bias toward paintings, this paper offers a preliminary, diachronic exploration of the market for European tapestries. By combining qualitative and quantitative data from sales and collection inventories, historiographical sources, and secondary literature, we shed light on past and present valuation mechanisms for this once esteemed luxury good. First, we discuss the supply of tapestries in the Early Modern period before examining demand. We then consider buyers’ main motivations to commission woven works, including ostentation, devotion, lifestyle, and national identity building. Furthermore, we examine the characteristics that drove the medium’s market value in the past, such as city brand name, technique and material, size, genre, and condition. We also investigate the variables that still influence buyers’ willingness to pay in the contemporary auction market. The main contribution of this research is to highlight lesser-known works and markets that originated in the Early Modern period and that still represent a distinct segment of the art market in the present. |
| Keywords: | Buyers’ motivations; Demand; European tapestry; Market value; Supply; Textile art |
| Date: | 2023–09–01 |
| URL: | https://d.repec.org/n?u=RePEc:ulb:ulbeco:2013/371370 |
| By: | Roberto Asmat (Vienna University of Economics and Business); Karol J. Borowiecki (University of Southern Denmark); Marc T. Law (University of Vermont) |
| Abstract: | Are women helped or harmed by being evaluated by other women? The evidence remains inconclusive and varies by time and place. We address this debate from a global and historical perspective by analyzing confidential data on the universe of international piano competitions held between 1890 and 2023 across approximately 100 countries. Using multiple identification strategies that leverage the repeated nature of these events, we find robust evidence that female competitors are less successful when judged by juries with a higher proportion of women. We estimate that replacing an all-male jury with an all-female jury reduces the likelihood that a female pianist reaches the finals by over 20 percent, reaches the podium by over 30 percent, or wins by over 40 percent. Analysis of individual juror scoring records from a major competition reveals that female jurors are stricter than their male counterparts in their relative assessments of female versus male competitors. We also find that the bias against female competitors is driven by prime-age female jurors who were previous winners in less prestigious competitions. This suggests that the gender bias of female jurors may be related to the threat that emerging female talent poses in a segmented labor market. |
| Keywords: | gender bias, female jurors, competition outcomes, classical music |
| JEL: | J16 J71 Z11 |
| Date: | 2024–08 |
| URL: | https://d.repec.org/n?u=RePEc:cue:wpaper:awp-03-2024 |
| By: | Shetty, Pavun (Yale University) |
| Abstract: | Blockchain-based games have introduced novel economic models that blend traditional gaming with decentralized ownership and financial incentives, leading to the rapid emergence of the GameFi sector. However, despite their innovative appeal, these games face significant challenges, particularly in terms of market stability, player retention, and the sustainability of token value. This paper explores the evolution of blockchain games and identifies key shortcomings in current tokenomics models using entropy increase theory. We propose two new models—ServerFi, which emphasizes Privatization through Asset Synthesis, and a model focused on Continuous Rewards for High-Retention Players. These models are formalized into mathematical frameworks and validated through group behavior simulation experiments. Our findings indicate that the ServerFi is particularly effective in maintaining player engagement and ensuring the long-term viability of the gaming ecosystem, offering a promising direction for future blockchain game development. |
| Date: | 2024–08–14 |
| URL: | https://d.repec.org/n?u=RePEc:osf:osfxxx:tsxj2 |