INTERNALIZING PRODUCTION COST AND CHANGES OF TASTES: MORE RECENT THEATRE PLAYS FEATURE FEWER ROLES

By Sacit Hadi Akdede, Victor Ginsburgh and Aynur Uçkaç 

We all know the big productions of older classical theatre have full imposing casts yet theatre productions are progressively losing cast size. Is this a response to changes in consumer taste or simply a way to lower the growing production costs?

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DOES COPYRIGHTS INCREASE CREATIVITY? LESSONS FROM ITALIAN OPERA DURING THE NAPOLEONIC AGE

By Michela Giorcelli and Petra Moser

Copyrights establish intellectual property rights in creative goods, from literature and science to images, film, and music. This work shows that the introduction of copyrights increases the quantity and the quality of creative output. Copyright extensions beyond the life of the original creator, however, have minimal effects on creativity.

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BRACE YOURSELVES, PIRATES ARE COMING! THE EFFECTS OF GAME OF THRONES LEAK ON TV VIEWERSHIP

By Wojciech Hardy

On 11 April 2015, episodes of the hit show Game of Thrones were leaked to the web. The leak constituted a rare event whereas a massively popular and highly anticipated title became available through piracy prior to its official release. This temporary incentive to pirate seems to have harmed the TV viewership of the leaked show but also of other shows sharing their audience with Game of Thrones.

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THE ROLE OF ART INVESTMENT AS A HEDGE OR SAFE HAVEN

By Belma Öztürkkal and Asli Togan-Egrican

Can art can be considered a safe haven during volatile times or a hedging option in general? we analyze long-term art auction sales data focusing on and around financial crisis periods in a volatile emerging market. Our findings suggest Turkish art returns are either negatively correlated or at low correlation with other investments, including the equity market.

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TOO HEAVILY TAXED TO AFFORD IT? VAT AND CULTURAL GOODS

By Victoria Ateca-Amestoy, Javier Gardeazabal and Arantza Ugidos

There is a very scarce tradition of cultural policy evaluation. Many public programs are devoted to increase cultural access by means of direct or indirect funding of cultural activities, targeting either consumers or producer. In this entry, we comment on the causal inference analysis that we did of the 2012 VAT reform for cultural services and its effect on household’s participation and expenditure.

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MORE THAN A GOOD BOOK: CONTINGENT VALUATION OF PUBLIC LIBRARY SERVICES IN ENGLAND

By Daniel Fujiwara, Ricky N. Lawton and Susana Mourato

This is the first economic study to value the wide range of benefits to individuals and the community provided by libraries in England, combining two economic methods for valuing culture: contingent valuation and subjective wellbeing analysis. A primary survey of around 2,000 library users and non-users shows the combined annual value of local library services is £723.4million. Library use is also positively associated with subjective wellbeing, suggesting that libraries have an important role in users’ quality of life.

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