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1.
The impact of the <Emphasis Type="Italic">Droit de Suite</Emphasis> in the UK: an empirical analysis
The Droit de Suite, known in the UK as Artists’ Resale Rights, provides an artist with the inalienable right to receive a royalty based on the
resale price of an original work of art. This paper provides an empirical analysis of actual changes in the UK auction market
for art that is newly subject to the Droit de Suite (DDS) because of a change in law. All changes are measured relative to changes for art not subject to the DDS and relative
to changes in the auction markets for art in countries where there has been no change in law. We do a difference-in-difference
analysis, differencing price growth and sales growth across market segments and across countries over the period 1993–2007.
Our results suggest that the introduction of the DDS has not had a consistent negative impact on the UK art auction market
during the period of study. 相似文献
2.
Legislation creating or reinforcing resale royalties for visual artists retains substantial political popularity – particularly in the European Union – despite the often skeptical attitude toward those rights in the economics literature. In this essay, we probe more deeply the affirmative arguments that can be made for a resale royalty right, in either a mandatory or a discretionary form. We also compare the rationale for visual artists' resale royalties with the potential rationales for the now-well-established systems of royalty rights for authors and composers. This comparison has particular interest both because some of the principal arguments made against visual artists' resale royalties also apply to authors' royalties, and because the economic rationale for compensating authors with royalties has itself not been well explored. We also discuss briefly the related subject of display rights for visual artists. We conclude with some general implications for policy. 相似文献
3.
Seth C. Anderson Robert B. EkelundJr. John D. Jackson Robert D. Tollison 《Journal of Cultural Economics》2016,40(3):335-357
Art, along with other “treasure assets,” has become a central object for investment opportunities. Investment return studies using hedonic and resale price regressions on different artistic periods and styles produce estimates of varying rates of return, predominately low rates with high standard deviations. The present study employs a new sample of American art sold at auction between 1987 and 2011—art created before 1950 by 33 artists born prior to 1900. Our study, unlike those that preceded it, considers works that are no-sales (those “bought-in” for failing to sell at auction at or above a predetermined and negotiated minimum price), in addition to full transaction costs—buyers and sellers premia on hammer prices. We conclude that investment return calculations are biased upward and may be negative when these factors are considered and that the “consumption utility” of art may be higher than previously thought. However, using a variant of the capital asset pricing model, we find that investment in early American art may still be desirable in a diversified portfolio of assets for when the price of stock assets falls, the price of art does not fall in the same proportion. 相似文献
4.
We analyse determinants of prices for contemporary art with the help of quantitative data. The focus is on gallery rather than auction prices in the Netherlands. We model the determinants of prices on three different levels: the work of art (size, material), the artist (age, sex, place of residence, institutional recognition), and the gallery (location, institutional affiliation, age). Our main findings are that the size and material of works of art, and the age and place of residence of the artist are strong predictors of price; that differences in size and materials partly ``mask' price differences between artists; and that the variance in prices across galleries is largely explained by characteristics of the artists they represent. 相似文献
5.
In this note, 30,227 paintings by fifty well-known modern and contemporary Australian artists sold at auction over the period
1973–2003 are used to construct a hedonic price index. The attributes included in the hedonic regression model include the
name, age and living status of the artist, the number of works sold, the size and medium of the painting, and the auction
house, month and year in which the painting was sold. The results indicate that returns on Australian modern and contemporary
art averaged nearly five percent over the period with a standard deviation of sixteen percent. The results also show that
a ten percent increase in the Australian stock market is associated with a 3.4 percent increase in the art market. Generally,
artworks by artists deceased at the time of auction, larger works, works executed in oils, and those auctioned by Sotheby's
or Christies in July or August are associated with higher prices. 相似文献
6.
Ivan L. Pitt 《Journal of Cultural Economics》2010,34(3):219-236
This paper examines the economic accomplishments of individual members in a Performing Rights Organization (PRO), sometimes
referred to as a Performing Rights Society. Today, there is the growing importance of intellectual property and copyright
protection for authors and creators of literary, dramatic, musical, artistic and other intellectual works. The digital age
has placed added pressure on songwriters, lyricists and composers in their ability to derive economic benefits from their
intellectual creativity in the form of a copyright. Copyright laws protect and enable the creation of music by allowing authors and composers to license the control and use
of their creations, and receive compensation in the form of royalty payments for their work. The PROs license, collect and
distribute royalty payments for non-dramatic public performances of copyrighted musical works created and owned by its members or affiliates. In this paper, skewness and heavy tail of returns
in the form of member royalty payments are estimated using the skew-normal and skew-t distributions in a parametric approach. We found strong evidence of the so-called ‘superstar effect’ in which the average
royalty payment made by a PRO is still dominated by extreme outcomes, and relatively few members earned a substantial share
of royalty payments from blockbuster hits that have endured over time. There is little evidence of smaller niche members dominating
or replacing the ‘superstars.’ Economists and others will benefit from this empirical study which emphasizes a new understanding
of the music industry from a PRO, member royalty payment and performance copyright perspective. 相似文献
7.
Luc Champarnaud 《Journal of Cultural Economics》2014,38(4):369-384
We reconsider Rosen’s economics of superstars model establishing, in the case of single-type consumers, a constant price-to-quality ratio. Rosen also conjectured that, in the case of multiple-type consumers, the normal course of consumer behavior forces the price-to-quality relationship to be convex and prevents it from being concave. We show that this conjecture is false and explain why there is no a priori reason to rule out concavity in the price-to-quality relationship. In this model, the market matches consumers to artists on the basis of quality: consumers of each type select only one level of quality, supplied by artists endowed with a specific level of talent. The concavity or convexity of the price-to-quality relationship is non-trivially related to the way both populations are matched. Consumers with poor knowledge have greater fixed costs above and beyond the price they have to pay on the market. They are therefore less reluctant when prices rise sharply and they specialize in levels of quality that entail a high marginal appreciation of quality: this can mean either a high or a low level of quality, depending on price curvature. With convexity, as Rosen pointed out, they turn toward superstars. Symmetrically, convexity encourages connoisseurs to turn toward low quality. But concavity too is fully possible: consumer–artist matching, for the same reasons, simply has the reverse effect. Connoisseurs go for great talents, whose price of quality flattens out. The global shape of the price-to-quality relationship (concave or convex) is determined by market clearing conditions and, more crucially, by the distribution of agents on both sides. 相似文献
8.
William M. Landes 《Journal of Cultural Economics》2001,25(4):283-306
This paper presents an economic analysis of the Visual Artist's Rights Act of 1990 (VARA) which provides attribution and integrity rights, commonly called moral rights, for defined types of artistic works. The paper shows that these laws may actually harm artists by adding contracting and transaction costs in the art market. For most works, these costs will be trivial because collectors have a strong self-interest in preserving works in good condition. These costs are more likely to be significant, however, for works subject to destruction or alteration in the future, such as site-specific works and works installed in buildings, because purchasers will require waivers rather than risk violating the Act. The paper also examines the few cases that have been litigated under VARA. Consistent with the economic model, these cases involve large-scale works by relatively unknown artists that have been destroyed by building projects. Finally, the paper presents an empirical analysis of state moral rights laws. Nine states enacted these laws prior to VARA. These laws had no significant effect on artist earnings but a positive and significant effect on the number of artists living and working in the state. 相似文献
9.
Musicians, singers and bands can use their popularity to promote various causes and products, either through endorsements or more individual initiatives. Environmental activism is becoming more widespread as humans are trying to tackle and mitigate climate change. In this paper, we ask how best a band can compensate for the carbon emissions generated by fans travelling to its shows. We first report on the various “green” initiatives and practices of the music industry. We then focus on greenhouse gas emissions that result from tours and concerts since they are one of the largest environmental impacts generated by the music industry. We take the perspective of the artist or band wishing to internalize their carbon emissions and present a model of carbon offsets in the context of rock concerts, which amounts to the private provision of a public good. In our model, bands have the option to include offsets in the ticket price or to offer voluntary offsets. To illustrate our point, we present a field study conducted by a Quebec rock band at shows in Montreal and in Europe to show how the artists can reduce the environmental impact of their concert by buying carbon credits equivalent to their fans’ footprint. We show that at 1 % of the ticket price on average, the cost of carbon offsets is marginal and discuss the numerous challenges that arise for those artists wanting to engage in carbon offsetting. 相似文献
10.
《Journal of Cultural Heritage》2014,15(3):266-274
Most of the historical paints are mainly constituted by inorganic pigments, either pure or mixed, spread on the surfaces using different binding agents. The knowledge of the exact amount of different constituents of the paint, as well as of the mixing and pictorial techniques, is crucial for a careful program of conservation of polychrome works. Moreover, since the availability of these pigments has been changing through the centuries, their identification and chemical characterisation is useful to acquire or deepen information about the artist and his/her work. This information can also be useful for authentication purposes through relative dating because the identification of one pigment respect to another one can be used as a terminus post quem or ante quem the artwork was realized. In this work, X-ray fluorescence data from historical pigments, both pure and mixed, will be presented, in order to obtain quantitative information on the samples and to extract calibration curves to the aim of evaluating the pigment concentration in unknown mixtures. 相似文献
11.
Roger A. McCain 《Journal of Cultural Economics》1994,18(2):101-112
This paper explores the implications of models of bargaining power for issues having to do with the droit de suite, a legal right of graphic artists to a share in capital gains when a work of art is resold by the first purchaser. It is found that, if both artists and art buyers are risk averse, a positive resale share will be the outcome of a bargaining process that is Pareto-optimal as between the bargainers. This does not depend on bargaining power but is a form of risk-sharing, and to the extent that art buyers are risk averse will be preferred to a zero shareby the buyers. Since resale royalties are not ordinarily a feature of art sale contracts in the absence of legislation, this appears anomalous, and the paper explores alternatives to the received bargaining theory such as might correspond better with casual empiricism. 相似文献
12.
Douglas J. Hodgson 《Journal of Cultural Economics》2011,35(4):287-308
We conduct an empirical analysis of the effect on the auction price of a Canadian painting of the age of the painter at the
time of creation of the painting. We consider over two hundred artists, active over the entire history of Canadian art, who
are pooled in the estimation of a hedonic regression in which a polynomial function in age enters as a regressor along with
several other control variables. We consider the possibility that the age–price relationship has changed over time by: (a)
estimating separate age–price functions for three generational groups of artists—those born before 1880, between 1880 and
1920, and after 1920 and thus coming of age in the world of post-war ‘contemporary art’ and (b) estimating a parameterization
where the shape of the age–price profile is permitted to change continuously depending on the year of birth of the artist.
Our principal result is that artists born more recently tend to ‘peak’ earlier in their careers than those of previous generations. 相似文献
13.
我一走进商亚东的画室,就感觉明亮、静谧.他时常独自躲在这里自由作画,呆上一整天的辰光,待到钱江边升起余晖才归去.一幅幅随意摆放的油画泄露着他的复杂情感.驻足画前,我在笔触的层层相叠交织中,揣测画面中人为何人、心有何想,接着又揣测作者创作时的心思. 相似文献
14.
101岁的一代大师离我们而去,中国古代书画鉴定界的＂国宝＂,永远闭上了双眼。徐邦达,1911年生于上海,祖籍浙江海宁。曾为故宫博物院研究员、国家文物鉴定委员会常务委员,西泠印社顾问。徐邦达集鉴定家、收藏家、书法家、画家、诗人、词家于一身,雅号＂徐半尺＂。2003年,他将一生创作的部分书画精品捐给故乡海宁,成立＂徐邦达艺术馆＂。 相似文献
15.
Hendrik Sonnabend 《Journal of Cultural Economics》2016,40(4):529-545
Unlike Kahneman et al. (Am Econ Rev 76(4):728–741, 1986) iconic snow shovel, live music is a performance good that fans attach a particular value to. Hence, an artist’s pricing decision might differ from standard rent-seeking behavior. In this paper, I propose a model that incorporates fairness concerns into the pricing decision for concert tickets. The hypotheses derived from this model are tested on data from the German club concert industry. The results are consistent with the model: Although (1) price dispersion is the dominant pricing strategy in the club concert industry and artists prefer to perform on a Friday or Saturday night, (2) artists do not set higher prices on the weekend. These results are consistent with fairness constraints, but are difficult to explain within a standard profit maximization framework. As a third result, (3) the data reveal that ticket prices are positively correlated with a city’s number of inhabitants . 相似文献
16.
《Journal of Cultural Heritage》2014,15(5):564-568
This paper deals with the scientific survey of Remo Brindisi's painting “Ragazzo seduto” (Seated boy), made at the end of the 1950s, that is a symbolic figure of both his personal artistic solitude and the crisis of values determined by the economic boom in the post-war period. In a period of great changes and economic regrowth, the need to find a new style that could be the most authentic and personal as possible pressed the artist to experiment innovative products, including non-conventional support. Photographic and analytical techniques demonstrated the use of innovative products as an experimentation tendency, that pressed the artist to use non-conventional support, industrially treated with plasticized PVC and primed with acrylate polymers and to paint with traditional and industrial pigments mixed with an oil-modified alkyd resin. In the span of a few years, an unexpected and extended degradation on the whole surface of the painting took place, with the consequent formation of lifting and detachment of the paint film. The detected alteration is mainly due to the fast ageing of the employed polymeric materials, actually responsible of the impermanence of many contemporary works of arts. Clarifying the unknown aspects of the Remo Brindisi's stylistic choices together with the deterioration processes of the employed painting materials, this paper highlights the general problems related to the conservation of contemporary art, a neglected area of research in Italy, where more efforts are committed to the enormous and more ancient cultural heritage. 相似文献
17.
Within a hedonic pricing model, the preferences of Australian art purchasers are investigated. Emphasis is placed on the impact of an artwork’s dimensions upon its auction price. A salient aspect of this is the first test of the ‘golden ratio’ hypothesis in a market situation. It is concluded that purchasers prefer paintings that deviate from the golden rule. The ‘orientation’ of works (portrait, landscape or square) as well as size also helps determine price. The impact of winning the Archibald portraiture prize (Australia’s foremost art prize) is found to have significant and positive impacts on winning artists’ prices. This suggests that purchasers are not fully informed. In addition, a previously unsuspected relationship between artwork dimensions and Archibald prize winners was found. As well as purchasers’ preferences, the artists’ choices of the dimensions of their artworks are considered. 相似文献
18.
日前去上海淮海路拜会睽违多年的越剧表演艺术家王文娟,见她的会客室正中挂着电影表演艺术家孙道临的大幅遗像,很自然地想详细了解这对艺坛“金童玉女”恩爱45年的佳话。上世纪60年代初期,这段往事一直成为美谈。1984年8月,我曾负责在杭州举办“徐玉兰王文娟师徒同台献艺”活动,轰动一时。尽管接触频繁,但因排练和演出繁忙, 相似文献
19.
Conclusion What we have accomplished is to provide a framework in which artists are seen as economic individuals who base decisions on the same set of factors as nonartists. We are uncomfortable with the notion that artists are a special breed who are not responsive to economic incentives. We are also uncomfortable with the notion that nonartists could never be artists. However, the model as presented does allow for the possibility that an artist will incorrectly estimate the worth of his or her works, and continue to pursue an artistic career. It also allows for the possibility that some nonartists may also make the wrong choice and pursue a nonartistic career instead of an artistic one. 相似文献
20.
Beginning in 1979, certain states extended extra copyright protection, known as “moral rights” protection, to visual artists.
Moral rights protection, which was incorporated into U.S. copyright law in 1990, ensures that works cannot be altered in a
manner that would negatively impact the reputation of the artist. Using difference-in-differences regression strategies, we
compare artists and non-artists in states with moral rights laws to those in states without these laws, before and after the
laws are enacted. This enables us to test the impact of the laws on the behavior of artists, consumers, and policy makers.
Our analysis reveals that the average artist’s income falls by around $4000 per year as a result of moral rights legislation,
but we find no impact of the laws on artists’ choices of residence or on state-level public spending on the arts. 相似文献