Research-based policy analysis and commentary
By Christian Peukert
Digitization has made a large impact on the cultural industries in the past 20 years. With a new wave of technologies arriving, it will be important to understand the economic implications of data and artificial intelligence that complements, or perhaps substitutes for human creativity with regards to cultural participation, copyright and the industrial organization of culture.
Continue reading “DATA-DRIVEN CULTURE, ARTIFICIAL INTELLIGENCE AND MACHINE CREATIVITY”
By Francesco Angelini and Massimiliano Castellani
The art market literature is still lacking a detailed analysis of the artist’s role in the formation process of artworks’ value. In order to improve the understanding of this process, we discuss what value is, how it is studied, and how it is ultimately influenced by the artist.
Continue reading “IS THERE A ROLE FOR THE ARTIST IN THE FORMATION OF VALUE?”
By Alina Ozhegova and Evgeniy M. Ozhegov
Estimation of willingness-to-pay (WTP) is widely spread approach in economics and marketing for problems of optimal pricing and measuring of product value for a customer. Machine learning approaches may help to estimate a range of WTP for theatre tickets and explain main sources of audience heterogeneity in estimates of WTP.
Continue reading “MACHINE LEARNING TO UNCOVER DIFFERENCES IN WILLINGNESS-TO-PAY FOR THEATRE TICKETS”
By Thaís Luiza Donega e Souza, Marislei Nishijima and Ana Cláudia Polato e Fava
We evaluate the effect of critical reviews by consumers and experts on a film’s running time at movie theaters in the United States. In addition to the usual expert critics’ reviews, we employ the consumer reviews rating and their affectivity about films as a measure for the consumer influence effect. We find evidence of consumer rating matter in keeping a film running longer at the theaters, but experts’ ratings have a larger influence on the movie market as a whole.
By Andrea Baldin and Trine Bille
Most performing arts organizations are characterized by a complex array of objectives than merely the maximization of revenue. In this paper, we introduce a multi-objective optimization model that jointly considers pricing and seat allocation. The proposed model is validated with booking data referring to the Royal Danish theater during the period 2010–2015.
Continue reading “DO THEATERS MAXIMIZE ATTENDANCE OR REVENUE?”
By Elisa Salvador and Pierre-Jean Benghozi
The e-book revolution impacted all the phases of the traditional value chain of the book publishing sector, characterized by a secular business model. A comparative analysis of the technological characteristics – through an analytical and methodical codification – of all the versions of 6 well-known e-readers enabled to highlight that there is an attitude towards standardization linked to some specific minor specialization choices.
Continue reading “TECHNOLOGICAL COMPETITION IN THE E-BOOK READERS’ MARKET”
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