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.Continue reading “BRACE YOURSELVES, PIRATES ARE COMING! THE EFFECTS OF GAME OF THRONES LEAK ON TV VIEWERSHIP”
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.
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.
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.
By Andrej Srakar and Marilena Vecco
The estimation of the economic effects of cultural events is a topic that has stirred numerous debates in cultural economics. Although economic impact studies and contingent valuation have been the most frequently used methods, both suffer from numerous problems. In this article, we use ex-post econometric verification as a new and promising method in cultural economics in the estimation of the economic effects of cultural events and apply it to the estimation of the effects of the 2012 European Capital of Culture Maribor on tourism and employment.
By Sara Suarez‑Fernandez, Juan Prieto‑Rodriguez and Maria Jose Perez‑Villadoniga
Education is the socioeconomic variable that has the greatest (direct and indirect) impact on cultural participation. In this paper, we analyze the effect of education on cultural consumption once the impact of income is controlled for. We find that the effect varies between activities, with its marginal effect more relevant for highbrow activities than for popular culture. This result is consistent with the idea that highbrow cultural consumption involves the comprehension of more complex symbolic elements, and individuals’ decoding abilities depend more on education than on income. Continue reading “FROM POPULAR TO HIGHBROW CULTURE: THE CHANGING ROLE OF EDUCATION”