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EconomistsTalkArt.org

Research-based policy analysis and commentary

PAY-WHAT-YOU-WANT IN CULTURAL INSTITUTIONS: TOP MANAGERIAL TIPS

By Anna Kukla-Gryz, Katarzyna Zagórska and Peter Szewczyk

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Managers of cultural institutions, looking for a way to make your institution more accessible, while still remaining profitable? Consider a “pay what you want” admission policy! Our research on PWYW for cultural goods has shown us clear ways the payment scheme could be best implemented. Continue reading “PAY-WHAT-YOU-WANT IN CULTURAL INSTITUTIONS: TOP MANAGERIAL TIPS”

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CHANGING FUNDERS, CHANGING VALUES? EVIDENCE ON CROWDFUNDING IN THE NETHERLANDS

By Quirijn L. van den Hoogen

 

What happens to art worlds when funding mechanisms change? The Dutch case is of particular interest as the national government cut around 25% of the national cultural budget in 2013. This was legitimized by arguing that the cultural sector was ‘over-reliant on public funding’, pointing to crowdfunding as an alternative to state funding. But, what happens when the government relies on ‘the wisdom of the crowd’ rather than decisions of experts from the cultural sector?

Continue reading “CHANGING FUNDERS, CHANGING VALUES? EVIDENCE ON CROWDFUNDING IN THE NETHERLANDS”

UNFORESEEN CONSEQUENCES OF GOVERNMENT BUDGET CUTS TO PUBLIC LIBRARIES

By Amir Borges Ferreira Neto

Recent pressure to reduce public budgets have been affecting public libraries all across the US. Such government budget cuts make other components of a library’s revenue, namely, donations from private individuals and grants, relatively more important. In our study, we show that every dollar spent by local, state and federal governments is correlated with a significant increase in donations. Therefore, policy-makers should be cautious when cutting funds from public entities, especially from cultural-type entities such as public libraries. Continue reading “UNFORESEEN CONSEQUENCES OF GOVERNMENT BUDGET CUTS TO PUBLIC LIBRARIES”

NUDGE: IMPROVING DECISIONS ABOUT ARTS AND CULTURE?

By Boram Lee

Nudge might sound like “marketing with psychological tricks,” and nothing new; its effectiveness may run out as society gets wise. The science of “nudge” is, however, changing the context of how the options are presented. We wanted to explore whether we could implement the concept of “nudge” in order to increase private donations to art organisations. When potential donors were nudged to donate, we observed significant loss aversion effects as frequent gallery-goers donated more in order to avoid losing an exhibition.

Continue reading “NUDGE: IMPROVING DECISIONS ABOUT ARTS AND CULTURE?”

CULTURAL DIPLOMACY: ARM’S LENGTH STRATEGIES UNDER THE MICROSCOPE

By Kalliopi Fouseki and Dimitra Kizlari

Cultural diplomacy has been steadily gaining momentum the past decade in EU policy-making circles. Despite genuine efforts to build a common strategy, the member-states still have a long way as their individual differences in managing cultural relations present striking variance.

Continue reading “CULTURAL DIPLOMACY: ARM’S LENGTH STRATEGIES UNDER THE MICROSCOPE”

TWO INFORMATION AGGREGATION MECHANISMS FOR PREDICTING THE OPENING WEEKEND BOX OFFICE REVENUES OF FILMS

By David Court, Benjamin Gillen, Jordi McKenzie and Charles R. Plott

Many entertainment and, more generally, cultural products are characterised by significant levels of uncertainty regarding their ultimate appeal to consumers. This is perhaps no place better observed than in the theatrical film industry, where the famous ‘nobody knows anything’ quote of William Goldman has often been used to support this idea. We present two aggregation mechanisms to predict the opening weekend box office success of films and show they are able to provide useful predictions of box office revenues. Continue reading “TWO INFORMATION AGGREGATION MECHANISMS FOR PREDICTING THE OPENING WEEKEND BOX OFFICE REVENUES OF FILMS”

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