1,720,996 research outputs found
The Demand and Supply for Popular Culture: Evidence from Italian Circuses
No full textDespite an extensive empirical literature on the determinants of cultural consumption, few studies focus on the demand for popular forms of culture (i.e. reality television, popular music, yellow journalism, among the others). The purpose of this paper is to fill this lacuna by analysing the market for circus, a worldwide popular performing art. To this aim, a demand–supply model is investigated using data on 107 Italian provinces over the period 2006–2007, by applying the SUR and the 3SLS methodologies. Findings confirm the economic theory, since price is negatively correlated with the quantity demanded and positively with the quantity supplied. According to our results circus is an inferior good. This result show that high and popular culture are far from competing each other. Cinema, theatre and concerts turn out to be feeble substitute goods for circus. Circuses in the South and Islands of Italy are characterised by longer stays in a single location probably due to higher appreciation for circus performances and favourable climate conditions. Since the determinants of popular culture demand are find to be different from those of high culture, our findings can be useful for policy makers to implement policies finalised to social inclusion and social cohesion
To fake or not to fake: An empirical investigation on the fine art market
Full text linkAlthough carefully debated in the legal, aesthetic, and philosophical perspectives, the impact of fakes on the art market has been often overlooked by the economic literature. This paper offers a novel perspective on this issue by investigating the effects of the detection of several Alberto Giacometti’s forged sculptures. Using this exceptional quasi-experiment, the aim of the paper is to analyze whether a specific fake detection persistently influences the prices of a market segment or only exerts a short run effect. The Interrupted Time Series Analysis is adopted to evaluate the impact of fakes across percentiles of the return distribution, accounting for the overall trend in sculpture sales over the period 2000–2015. The empirical evidence shows that in the short run different dynamics emerge across percentiles, but in the medium run fake effects on returns are neutralized
Contemporary Art Fairs in Mainland China: From Local to International Status?
No full textAlthough the contemporary art system has experienced relevant changes in Mainland China over the past decades, only recently it gained an international reputation. Within this context, art fairs played a strategic role in developing relationships with players of the global art world. The aim of this paper is to analyze this internationalization process by focusing on two dimensional measures: the composition of galleries attending art fairs and their network embeddedness. Using Social Network Analysis (SNA) to explore contemporary art fairs in Mainland China over the period 2007–2019, we show the transition from local to international hub, suggesting the importance of art fairs as a potential soft power vehicle
The more you know, the better: A Heckman repeat-sales price index
No full textThe Repeat-Sales (RS) model controls quality by using the prices of the same items in various time periods. However, this methodology suffers from sample selection bias. To address this issue, a Heckman two-stage procedure has been applied to a sample of Picasso paintings from 1990 to 2016. Contrary to the literature — which argues sample selection bias comes from buy-ins — in this paper, bias is modelled to capture information on items sold only once. The research field frequently uses the standard (RS) index, yet empirical evidence shows systematic differences between the standard RS index and the Heckman RS index. These differences are relevant when buyers make decisions on art investments
Patients' migration across regions: the case of Italy
No full textThis article analyses patient mobility across Italian regions. A modified gravity model of patient migration is specified and estimated using panel observations covering mobility and other main regional quality indicators over the period 1994-1997. Despite the high level of aggregation due to data constraints, the empirical findings show that in Italy there is wide scope for quality-driven mobility while income determines the quality of the service offered.
The sound of silence: minorities, abstention and democracy
No full textDespite the existence of an extensive literature, no definitive conclusion seems to emerge on the extent to which minorities are guaranteed by democratic rules in political systems. This paper contributes to this debate by proposing a modified Heigselmann and Krauss two-dimensional model of preferences in order to capture the role of abstention on minority representativeness. Regardless of the typology of abstention, simulation results show that voter abstention always benefits minorities
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