MACHINE LEARNING TO UNCOVER DIFFERENCES IN WILLINGNESS-TO-PAY FOR THEATRE TICKETS

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.

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CONSUMER AND EXPERT REVIEWS EFFECTS ON THE LENGTH OF TIME A FILM IS KEPT ON SCREENS

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.

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DO THEATERS MAXIMIZE ATTENDANCE OR REVENUE?

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.
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TECHNOLOGICAL COMPETITION IN THE E-BOOK READERS’ MARKET

By Elisa Salvador and Pierre-Jean Benghozi

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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.

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RELIGION AND CULTURAL PARTICIPATION: WHAT THE EVIDENCE SHOWS

By Juan D. Montoro-Pons and Manuel Cuadrado-García

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Is there any link between religiousness and participation in the arts? This work identifies two dimensions of religiousness and estimates the impact these have on highbrow and lowbrow cultural participation. Evidence supports religiosity both as a means of building social relations (increasing participation in the arts) and of self-expression and attachment to a set of norms (decreasing arts consumption). Continue reading “RELIGION AND CULTURAL PARTICIPATION: WHAT THE EVIDENCE SHOWS”

THE PRICE OF A NAME: ART MARKET VALUATION OF PROVISIONAL NAMES (“THE MASTER OF …”)

By Kim Oosterlinck and Anne-Sophie Radermecker

The value of a painting is influenced above all by the artist who created it and his reputation. But what about those whose names have not survived the test of time? For these painters, art historians often create a provisional name describing attributes of the painter or of a painting of reference. Our research analyses how the market values these paintings.

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