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Cultural Economics

MAKING CULTURE CAPITAL: EVALUATING THREE DECADES OF THE EUROPEAN CAPITAL OF CULTURE

By Pedro Gomes and Alejandro Librero-Cano

We measure the regional impact of the European Capital of Culture programme using a difference-in-differences approach. GDP per capita in hosting regions is 4.5 % higher compared to non-hosting regions during the event, and the effect persists more than 5 years after it. This result suggests that the economic dimension of the event is important and supports claims that the event serves as catalyst for urban regeneration and development.

Continue reading “MAKING CULTURE CAPITAL: EVALUATING THREE DECADES OF THE EUROPEAN CAPITAL OF CULTURE”

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FOR MUSEUMS, WITH RAIN COME CROWDS?

By Harold E. Cuffe

Weather is regarded as an important determinant of leisure choices, yet little attention has been paid to the ways that weather affects museum attendance. I find that rainfall generally increases attendance at a large national museum, on average. However, closer scrutiny of the data shows that weather can possess both encouraging and discouraging effects on attendance, depending upon the timing and persistence of the rain.

Continue reading “FOR MUSEUMS, WITH RAIN COME CROWDS?”

THE PRINCESS OF ASTURIAS FOUNDATION OR HOW A NON-PROFIT INSTITUTION CAN BE EFFICIENT

By Víctor Fernández-Blanco and Ana Rodríguez-Álvarez

Competition and the internal logic of markets induce cultural firms and institutions to be efficient when market oriented. But, what happens in the case of non-profit organizations? They are beyond the market and their internal logic does not guarantee economic efficiency. In our article we explore the technical and allocative efficiency of The Princess of Asturias Foundation and confirm its good performance over the years.

Continue reading “THE PRINCESS OF ASTURIAS FOUNDATION OR HOW A NON-PROFIT INSTITUTION CAN BE EFFICIENT”

CULTURALLY-BIASED VOTING IN THE EUROVISION SONG CONTEST: DO NATIONAL CONTESTS DIFFER?

By Julia Pannicke and Oliver Budzinski

Regarding the Eurovision Song Contest (ESC) there are numerous controversies about discriminating and tactical voting. People vote for their neighbor countries and for countries with cultural similarities instead of evaluating simply the musical performance. If these biases were caused by the diversity of the different countries, voting biases should be less important for a national music contest with substantially more homogenous contestants. The question arises of whether biased voting occurs as well. Do national contests differ regarding their voting behavior? Is biased voting maybe unavoidable?

Continue reading “CULTURALLY-BIASED VOTING IN THE EUROVISION SONG CONTEST: DO NATIONAL CONTESTS DIFFER?”

FROM SNOBBY TO SUSTAINABLE: MOVING MUSEUM FUNDRAISING FROM SELECT ELITIST CONTRIBUTIONS TO DIVERSE COMMUNITY PARTICIPATION

By Yuha Jung

diversity-fundraising

With public funding for the arts decreasing, fundraising is becoming more vital—especially for museums where contributions comprise most of their revenue. However, traditional fundraising models, relying heavily on wealthy, white, well-educated donors, is less effective, excluding many perspectives and people. Museums need more inclusive fundraising to continue to thrive. Continue reading “FROM SNOBBY TO SUSTAINABLE: MOVING MUSEUM FUNDRAISING FROM SELECT ELITIST CONTRIBUTIONS TO DIVERSE COMMUNITY PARTICIPATION”

FAIRNESS CONSIDERATIONS IN THE LIVE MUSIC INDUSTRY

By Hendrik Sonnabend

decapitated_live__klub_studio_krakow_poland_june_5th_2012

Traditional economic thinking presumes artists in the live music business to act like a monopolist who adjusts the ticket price to variations in demand whenever it is possible. This contribution provides strong evidence indicating that they do not. I argue that this behavior can best be explained with fairness expectations on the part of concert attendees. Continue reading “FAIRNESS CONSIDERATIONS IN THE LIVE MUSIC INDUSTRY”

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