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1.
In this paper, we use data from a survey of 151 French record companies to test the “long-tail” hypothesis at the level of the firm. More specifically, we test whether, following the “selling less of more” principle coined by Anderson (2006), record companies that have adapted to digitization (at various levels: artists’ scouting, distribution, and promotion) release more new albums without having higher overall sales. We construct a production function in which the output is produced from conventional inputs of labor and capital, as well as inputs that are more specific to the recorded music industry. We consider two types of output: a commercial output (albums sales) and a creative output (number of new albums released). We show that labels that have adapted to digitization are more efficient in respect of creative output, but that there is no effect of adaptation to digitization on the commercial output, which is consistent with the predictions of the long-tail hypothesis.  相似文献   

2.
In the last decade, attendance at movie theaters has been relatively stagnant, while sales of digital versatile discs (DVDs) have grown dramatically. In this paper, we look at the factors determining sales of individual DVDs in the United States. Using data on new motion pictures released on DVD between 2006 and 2008, we find the demand for new DVDs is price-inelastic and that DVD sales are counter-cyclical. We find that previous box office success has strong positive effects on DVD sales. Production budget also has a positive effect on DVD sales, albeit indirectly through its effect on box office revenues. Critical acclaim has significant positive effects on both box office revenue and DVD sales, but the effect is smaller in regard to DVDs. There is some evidence to suggest that DVD sales are higher for movies with more sexual content and more violent content and lower for movies with more profanity, but these effects are indirect through the changes in the box office of these movies. We find that sales of R-rated DVDs are not as dependent upon critical acclaim as movies of other ratings, and are thus less risky for movie studios to produce. Our findings provide another explanation for the R-rating puzzle.  相似文献   

3.
Many consider salvage value and tourism expenditures as the only economic values of a historic shipwreck. This paper looks at one alternative, the non-market value generated by management of shipwrecks as submerged maritime cultural resources. We consider the question: How much are people willing to pay to maintain shipwrecks in their pristine state? The contingent valuation method was implemented during summer 2001 as part of a telephone survey to households in eastern North Carolina. We find that households are willing to pay about $35 in a one-time increase in state taxes. Willingness to payis internally validated by expected relationships with prices and income but fails to pass the scope test. We speculate that we inadvertently succumbed to the well-known “birds” problem. The double-bounded willingness to pay questions are not incentive compatible and are subject to starting point bias, despite efforts to minimize these effects.  相似文献   

4.
Driven by the pressure to permanently release a large number of books, publishers have to allocate limited advertising budgets across the wide range of newly released books. As in many creative industries, publishers often focus their advertising activities on potential top sellers written by recent bestselling authors. Considering potential selection effects in choosing the “right” books for advertising, this paper investigates (1) whether selection effects exist and to what extent potential selection effects influence the relation between book advertising and book sales and (2) the boundary conditions under which book advertising leads to higher sales by focusing on the “star power” effects of authors. By applying propensity score matching to a dataset of 598 fiction books from the German book market, we identify substantial selection effects that lead to a serious overestimation of advertising effectiveness by up to 41 % (10,000 copies sold). Using group analyses, we find that sales of books written by recent bestselling authors are not significantly influenced by advertising activities of publishers; however, the sales of books written by lesser-known authors can be increased significantly if they are advertised. Our findings are highly relevant for publishers, indicating that a shift in the allocation of advertising budgets toward promising books by lesser-known authors is recommended to improve the overall advertising effectiveness.  相似文献   

5.
A growing body of literature is devoted to testing the reality of the “long-tail” phenomenon. This literature is mostly, if not exclusively, focused on the impact of Internet on the distribution of sales by product. However, the long tail also raises the issue of a possible change in the usual market structure of cultural industries: an oligopoly with a competitive fringe. To our knowledge, no paper addresses the following question: If the long-tail effect does exist, is it of more benefit to small or dominant publishers? The aim of this paper was to address this issue in the context of the French publishing industry. Our main findings are as follows: (1) the market concentration of the French book industry is lower online than offline and (2) the difference in concentration between the two channels of distribution tended to widen over the period 2004–2010. Strategies adopted by leading publishers on the Web do not allow them to maintain the market share obtained with bricks-and-mortar retailers. Furthermore, we show that the market share lost by dominant firms is captured by small publishers online and by medium-sized publishers in conventional stores.  相似文献   

6.
Based on a unique dataset of artists that are active in the German market for folk music—the third largest music genre in terms of popularity and sales—I study what factors determine the artists’ success. Following Rosen (Am Econ Rev 71(5):845–858, 1981), I test if differences in artistic performance have a direct effect on financial rewards as regards physical and digital record sales (“direct superstar effect”). Following Adler (Handbook on the economics of art and culture. Elsevier, Amsterdam, 1985), I also study sales effects of a media presence of artists (“classical superstar effect”). Controlling for various contingency factors (e.g., record labels’ support, artists’ socio-demographics), I deal with an economic issue of general interest: Does it pay more to develop your skills in your core business to perfection or to maintain the current level of skills and invest in self-marketing; and do these effects apply to all folk artists alike? Rather contrary to studies on pop and rock genres, I find that higher ability increases artists’ revenues disproportionately, but simultaneously, openly competing for the recognition of one’s talent holds substantial economic risk. I also observe a positive effect of various types of media presence on financial rewards. However, these income determinants have different impacts on sales in physical versus in digital markets, and their effects vary across the success distribution from low- to top-selling artists as well.  相似文献   

7.
This paper tests whether demand for theatre in Italy is consistent with the model of rational addiction presented in Becker and Murphy (J Polit Econ 96(4):675–700, 1988). Data from a novel 34-year panel on regional annual theatre attendance are used to estimate market demand. Four models are applied to investigate the demand function, and all of these also include per capita income and other control variables as regressors. The first two models are estimated to check whether theatregoers are myopically addicted to theatre. The results suggest that the theatre is an addictive good because past consumption (and prices) significantly raises the marginal utility of current consumption. The third model tests the rational addiction hypothesis, which assumes that future attendance also influences current attendance, whilst past and future prices influence current attendance only indirectly through their impact on past and future attendances. However, our most highly specified model, introducing past and future prices, demonstrates that Italian theatregoers are not myopic but fully rational as outlined in Becker and Murphy (1988). The results demonstrate that the rational addiction hypothesis is applicable not only to “harmful” addictions such as alcohol, cigarettes and drug consumption, but also to “beneficial” addictions, such as theatre attendance. This result has important policy implications because theatre is one of the most subsidised performing arts in Italy; if theatregoers are fully rational, policy makers can influence theatre attendance using alternative policy instruments (price and income), thereby reducing government expenditure on theatre subsidies.  相似文献   

8.
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   

9.
Paintings are in essence about visual features of varying significance from which differences in their market prices originate. Studies normally investigate derivative sources of painting price determinants, which is reasonably understandable because the appreciation of an image is quite subjective. This paper provides an operational solution to the quantification of paintings based on a new concept termed as “visual autocorrelation” of prices (VAP). Considering the current empirical framework of spatial and temporal autocorrelation of prices, and using data on the paintings of two abstract expressionist artists, empirical results support the coherence of the VAP concept.  相似文献   

10.
This study attempts to answer two questions. First, can a single cultural event impact the stock prices of a wide range of companies and sectors? Second, was the positive stock market response in the information technology (IT) sector as well as performing arts sector significant? To answer these questions, we examine whether a hit pop single, “Gangnam Style” by Park Jae-Sang in 2012, affected related sectors of the Korean stock market and whether market reactions went beyond the stock price of the singer’s agency to affect those of other firms. We use an event study approach. The results show two notable empirical findings. First, although the findings indicating abnormal returns and cumulative abnormal returns appear mixed, the overall results imply that the unprecedented worldwide hit single by the South Korean singer positively affected the Recreation & Culture and Digital Content sectors. In other words, the market interpreted the event as good news, with shareholders expecting positive effects on the related sectors. Second, a positive stock market response was observed in the IT sector as well.  相似文献   

11.
This research presents a systematic empirical analysis of the market for digital versatile discs (DVDs). We examine a sample of 953 DVD titles that appeared on the weekly top-30 sales charts in North America over a 30-month interval. We find that the size distribution of weekly DVD sales revenue does not indicate the presence of increasing returns to information. The empirical results for DVD sales contrast starkly with previous results obtained for motion-picture box-office revenue, where a number of researchers have found evidence of positive feedback in demand. While the distribution of cumulative revenues across DVDs is highly unequal, the DVD market appears not to be characterized by the extreme heavy upper tail that so well describes the winner-take-all nature of the distribution of box-office success across motion pictures.  相似文献   

12.
This paper uses the logistic regression model and the count data model to identify the determinants of the likelihood and frequency of attendance at performing arts events in Taiwan. Using data collected from a telephone survey, we find that education and income, being determinants of the likelihood of attendance, are not significant in determining frequency of attendance. On the other hand, whereas members of performing arts groups attend more frequently than non-members, holding a membership or not does not seem to affect the likelihood of attendance. Personal relationships with the performing arts industry make one more likely to attend as well as to attend more frequently. Those who more often watch or listen to performing arts programs through the media or pay more attention to performing arts-related information are also likely to participate in live events and participate frequently. Lastly, age dose matter. We further find evidence of both life cycle and human capital effects in performing arts attendance.  相似文献   

13.
Using detailed data for 2001–2009 from the sales system of the Finnish National Opera, we estimate the determinants of demand for opera tickets. We find that operas in their premiere season are more popular than reprises. Demand is lower for classical operas and higher for domestic operas and for performances with a famous opera singer. Press reviews and the overall popularity of the opera piece have the expected effects. There is also evidence of seasonal effects. By excluding temporarily discounted tickets, controlling for performance characteristics and quality and using a method that takes into account capacity constraints, we are able to credibly estimate the price elasticity of demand. The overall elasticity is close to unity: on average, a 1 % increase in prices would result in 1.16 % decrease in demand.  相似文献   

14.
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   

15.
This paper explores discursive ways Chinese American older adults with type 2 diabetes mellitus (T2DM) take ownership of their health management. Fifteen patient stakeholders with T2DM took part in four focus group interviews. We used qualitiative discourse analysis to examine how participants used the phrase, “We (Tong) Chinese,” and variants, to index models of Chinese-living-in-the-U.S. personhoods, to incorporate “Chinese” and “western” ways of doing health management, to be Chinese American, and to interact with medical practitioners. We show how terms like “Tong” distinguish transnational boundaries and position participants in claiming “Chinese-in-America-ness” in relevant ways. Findings have implications for healthcare providers, health education, and intercultural communication.  相似文献   

16.
In this paper, I analyze how recent calls to internationalize publication behavior affect research practices at an automotive engineering department in Germany. Automotive engineering is a field with traditionally rather scarce publication activity and strong connections to industry. Substantial authority to define suitable research problems and ways of organizing knowledge production on a daily basis was therefore reserved for local academic elites as well as corporate partners. However, as engineers are increasingly expected to prove their performance through publishing in international peer-reviewed journals, the judgment as to what should be considered “interesting” or “robust” research is partly relegated to a gradually globalizing community of academic peers. This generates a variety of tensions with established ways of coordinating epistemic work at the department studied here. For example, the thematic interests of journals tend to exert a disruptive centrifugal pull in the context of an otherwise highly modular research culture, and possibilities to publish in international venues are unequally distributed across individual research projects. But while department members agree that there is a lack of fit between current practices and new expectations towards their publishing behavior, their opinions about the conclusions that should be drawn differ significantly. Some researchers argue that profound organizational changes are necessary to foster the academic rigor of German engineering research. Others believe that evaluation criteria should simply be adapted. This situation is arguably characteristic for research areas with a traditionally strong orientation to local stakeholders, and it suggests a need for more deliberative, participatory approaches to research evaluation in such fields.  相似文献   

17.
In recent years, plastics are designated as a source of indoor pollution and particular attention has thus been devoted to the identification of emitting low molecular weight compounds. Headspace-solid phase microextraction-gas chromatography coupled with mass spectrometry (HS-SPME-GC/MS) has been already successfully applied for screening emissions from synthetic materials. This analytical tool being also non-invasive, it has been already successfully applied in the field of cultural heritage science for the identification of volatile organic compounds (VOCs) emitted from various museum objects made of natural materials. In this research, we aimed at assessing the use of HS-SPME-GC/MS as an in situ non-invasive analytical tool for a better knowledge of the volatile organic compounds emitted by plastics in collections. The possibility of characterizing plastics based on their emission signatures was also evaluated. Twelve new standard plastic samples, belonging to seven main polymer families widely present in museum collections as well as three naturally aged museum objects, were investigated. In this paper, we provide a survey of the VOCs emitted, and the use of HS-SPME-GC/MS for identifying volatile marker compounds, degradation products, additives, and monomer residues of the plastic synthesis is evaluated. More than 200 different VOCs were identified from the new standard samples. Two categories of VOCs were distinguished: “non-specific” and “specific” ones. We showed that based on the “specific” VOCs, it was possible to identify the nature of the polymeric matrix itself or at least to unambiguously distinguish a plastic by family. Emissions from the museum objects were then characterised, and main volatile degradation compounds considered as degradation markers of the natural deterioration of polymeric matrices, were identified. This identification procedure could be further exploited for the characterization of VOCs emitted by objects made of multiple synthetic polymers. Complementary to other techniques, this analytical tool is an interesting way to assess the risk for the objects stored in the vicinity of emitting plastics.  相似文献   

18.
In this paper, we present a model for the marketability of a Tribal artwork, and we test this model empirically using a unique hand-collected dataset, which comprises the worldwide Tribal art market auctions between 1999 and 2008. Our results show a significant relationship between the probability of an artwork to be sold and several signs and signals. The effect of the auction estimated prices on the probability of sales is nonlinear and allows us to divide the Tribal art market into two price regimes. In the low-price regime, the effect of the auction estimated price on the probability of sales is negative. In the high-price regime, the effect of the auction estimated price on the probability of sales is positive.  相似文献   

19.
There is a crisis of valuation practices in the current academic life sciences, triggered by unsustainable growth and “hyper-competition.” Quantitative metrics in evaluating researchers are seen as replacing deeper considerations of the quality and novelty of work, as well as substantive care for the societal implications of research. Junior researchers are frequently mentioned as those most strongly affected by these dynamics. However, their own perceptions of these issues are much less frequently considered. This paper aims at contributing to a better understanding of the interplay between how research is valued and how young researchers learn to live, work and produce knowledge within academia. We thus analyze how PhD students and postdocs in the Austrian life sciences ascribe worth to people, objects and practices as they talk about their own present and future lives in research. We draw on literature from the field of valuation studies and its interest in how actors refer to different forms of valuation to account for their actions. We explore how young researchers are socialized into different valuation practices in different stages of their growing into science. Introducing the concept of “regimes of valuation” we show that PhD students relate to a wider evaluative repertoire while postdocs base their decisions on one dominant regime of valuing research. In conclusion, we discuss the implications of these findings for the epistemic and social development of the life sciences, and for other scientific fields.  相似文献   

20.
In 1973, German historian Arno Peters unveiled the “Peters projection,” a map that challenged the Eurocentric Mercator style by redrawing the so-called “Third World” to appear more prominent on the global landscape. The projection sparked intense debate among cartographers about the overt use of ideology in mapping, while simultaneously championed by international groups (from the UN to church organizations) as a corrective against the marginalization of developing nations. This essay addresses how the Peters map became a rhetorical emblem for an internationalist identity within the contentious spatial conceptions constraining the Cold War. Ultimately, the Peters projection, despite its radicalism, constituted a “recolonization” that supported logics of Western liberal development in the Third World.  相似文献   

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