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on Cultural Economics |
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Issue of 2025–10–20
four papers chosen by Roberto Zanola, Università degli Studi del Piemonte Orientale |
| By: | Michela Ponzo (Department of Economics, Statistics and Finance 'Giovanni Anania', University of Calabria, Rende (Italy)); Vincenzo Scoppa (Department of Economics, Statistics and Finance 'Giovanni Anania', University of Calabria, Rende (Italy)); Idola Francesca Spanò (Department of Economics, Statistics and Finance 'Giovanni Anania', University of Calabria, Rende (Italy)) |
| Abstract: | Films are often adaptations of novels. Using weekly bestseller list data spanning 50 years (1975–2024) and leveraging the panel structure of the data at the book-week level, we implement an Event Study Design to evaluate the impact of a film’s release on a book’s probability of entering the bestseller list after the release. After controlling for book’s and author’s characteristics, as well as time fixed effects, we find that film releases have an initial positive impact on book sales, followed by a later negative effect. Specifically, immediately after a film’s release, the probability of a book appearing on the bestseller list increases by approximately 15 percentage points. This effect is likely driven by heightened media attention and a coordination mechanism among readers. However, despite the short-term positive impact, a negative effect emerges around six months after the release, potentially because films serve as substitutes, leading some consumers to watch the film instead of reading the book. |
| Keywords: | Book Sales, Limited Attention, Salience, Event Study Design, Cultural Economics, Behavioral Economics |
| JEL: | D12 D91 M30 Z11 L82 |
| Date: | 2025–10 |
| URL: | https://d.repec.org/n?u=RePEc:clb:wpaper:202501 |
| By: | Samiha Tariq |
| Abstract: | This paper studies how visual traits and market cycles shape prices in NFT markets. Using 94, 039 transactions from 26 major generative Ethereum collections, the analysis extracts 196 machine-quantified image features (covering color, composition, palette structure, geometry, texture, and deep learning embeddings), then applies a three-stage filter process to identify stable predictors for hedonic regression. A static mixed-effects model shows that market sentiment and transparent, interpretable image traits have significant and independent pricing power: higher focal saturation, compositional concentration, and curvature are rewarded, while clutter, heavy line work, and dispersed palettes are discounted; deep embeddings add limited incremental value conditional on explicit traits. To assess state dependence, the study estimates a Bayesian dynamic mixed-effects panel with cycle effects and time-varying coefficients for a salient image attribute (Composition Focus - Saturation). Collection-level heterogeneity ("brand premia") is absorbed by random effects. The time-varying coefficients exhibit regime sensitivity, with stronger premia in expansionary phases and weaker or negative loadings in downturns, while grand-mean effects remain small on average. Overall, NFT prices reflect both observable digital product characteristics and market regimes, and the framework offers a cycle-aware tool for asset pricing, platform strategy, and market design in digital art markets. |
| Date: | 2025–09 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2509.24879 |
| By: | Maarouf, Abdurahman; Greene, Kevin T.; Shapiro, Jacob N; Feuerriegel, Stefan (LMU Munich); Ribeiro, Manoel Horta |
| Abstract: | Short-form video platforms, such as TikTok, have rapidly transformed digital media consumption, with billions of active users worldwide. Their design features, such as algorithmic personalization, endless scrolling, and rapid novelty, have raised concerns about mobile overuse and its associated adverse effects on well-being. However, evidence on whether short-form videos increase mobile usage remains limited. To address this gap, we estimate the causal effect of short-form video platforms on mobile usage behavior using individual-level data (N=1, 764) drawn from a representative panel of U.S. mobile device users. Specifically, we compare TikTok adopters to adopters of Instagram/Facebook during the period when short-form video was the key distinguishing feature of TikTok (i.e., before these competitors introduced their own short-form video products), thereby shedding light on the effect of exposure to short-form videos. We find that using short-form video platforms significantly increases total mobile usage duration (up to 17%) and reduces average time away from the mobile phone (by -20%), but does not consistently affect the number of daily sessions. Effects are disproportionately higher among individuals who previously used their phones less, relative to those with higher baseline usage. Contrary to fears about nocturnal overuse, effects are only significant during daytime hours. Surprisingly, older individuals have significantly larger increases in mobile sessions per day from usage of short-form video platforms compared to younger individuals. Altogether, our results show a behavioral mechanism through which short-form video platforms contribute to mobile overuse, offering new insights into theories of digital addiction and highlighting the importance of promoting healthier digital engagement. |
| Date: | 2025–10–10 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:nge76_v1 |
| By: | Davide Cipullo; Luca V.A. Colombo; Michele Magnani; Massimiliano Gaetano Onorato |
| Abstract: | This paper proposes a novel methodology to identify the geographic market of local newspapers when information on their diffusion is not available or is not sufficiently granular. We illustrate the methodology using historical data from 154 newly digitized newspapers published in Italy between 1919 and 1922. Combining machine learning-augmented optical character recognition techniques, multi-way fixed-effect regressions, and GIS tools, our approach allows us to estimate markets based on news content. Text-based location of newspaper markets considerably improves over assuming that market boundaries coincide with administrative aggregations. We discuss how our technique strengthens the usage of newspapers as a granular and time-varying source of historical information and offers new avenues for identification strategies. |
| Keywords: | newspaper markets, media coverage, text analysis, inter-war Italy |
| JEL: | C18 C81 N01 N94 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_12194 |