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EconomistsTalkArt.org

Research-based policy analysis and commentary

Author

Andrej Srakar

Cultural economist and researcher in mathematical statistics and econometric theory and applications, based in Ljubljana, Slovenia.

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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ARE THEY ALL THE SAME? A CASE STUDY OF THREE AUSTRALIAN INDIGENOUS ARTISTS

By Lisa Farrell, Jane M. Fry and Tim R.L. Fry

Many studies of art auctions assume that a single statistical model using observed characteristics relating to the artwork and the auction can explain the observed variation in the sample of all artworks and artists. We show that such “pooling” is not always appropriate and may lead to erroneous conclusions.

Continue reading “ARE THEY ALL THE SAME? A CASE STUDY OF THREE AUSTRALIAN INDIGENOUS ARTISTS”

EconomistsTalkArt.org wishes you happy holidays and a great new year 2018!

By The Editorial Team

The Editorial Team of EconomistsTalkArt.org wishes you a happy start into the New Year! The blog, which started as an initiative of the nights of EWACE in Vienna 2015, has become one of the central dissemination tools of the work of cultural economists around the world. In the two years of our existence we have been visited by more than 25,000 times by 15,000 visitors from almost all countries of the world.

We sincerely hope the New Year will continue providing you with the pleasure of reading posts written by leading authors in cultural economics!

With best wishes,

Andrej, Cedric, Karol, Marilena and Trilce

MUSEUMS SELLING ART: LA LIAISON DANGEREUSE BETWEEN DEACCESSIONS AND DONATIONS

By Luigi Di Gaetano and Isidoro Mazza

Economic downturns and policy reversals have caused a shortage of public and private funding for many museums. Museums in dire straits have therefore considered deaccessioning part of their collection. The question whether deaccessions could be a viable, although exceptional, option continues to ignite a lively debate and a fierce opposition by museum associations around the world fearing that deaccessioning would send a bad signal to donors. The study investigates this hypothesis using a game theory approach.

Continue reading “MUSEUMS SELLING ART: LA LIAISON DANGEREUSE BETWEEN DEACCESSIONS AND DONATIONS”

TRANSFORMATION AND JOB CREATION IN THE CULTURAL AND CREATIVE INDUSTRIES IN SOUTH AFRICA

By Jen Snowball, Alan Collins and Delon Tarentaal

The Cultural and Creative Industries (CCIs) have been hailed as offering great potential to create jobs and to be socially inclusive. This study investigates to what extent the CCIs in South Africa are moving towards more inclusive and racially diverse patterns in their ownership and employment profiles. Using a survey of 2400 randomly selected CCIs, it compares ownership and employment patterns across the six UNESCO Cultural Domains to determine their contribution to black economic empowerment (transformation) within the various domains.

Continue reading “TRANSFORMATION AND JOB CREATION IN THE CULTURAL AND CREATIVE INDUSTRIES IN SOUTH AFRICA”

DOMINANT AND DOMINATED POSITIONS IN THE CO-PRODUCTION NETWORK OF THEATRE COMPANIES IN ITALY’S CAMPANIA REGION

By Marco Serino, Daniela D’Ambrosio and Giancarlo Ragozini

In this study we contend that the co-production of theatre plays may have a critical impact on the ways producers position themselves in the theatrical field. Being involved in co-productions means taking part in the struggle for gaining rewards depending on the more or less advantageous partnerships one is able to exploit. Our study on a regional theatre system of Southern Italy reveals how such partnerships matter for producers to conquer dominant positions in the local theatre industry

Continue reading “DOMINANT AND DOMINATED POSITIONS IN THE CO-PRODUCTION NETWORK OF THEATRE COMPANIES IN ITALY’S CAMPANIA REGION”

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