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1.
Severe budget cuts in the cultural sectors of many countries have spurred disparate suggestions for alternative sources available to public institutions. Deaccessioning may be an option, although controversial, to guarantee the survival of cultural institutions. This paper addresses the consequences that deaccessioning may have on donations of artworks to museums, by developing a sequential game with incomplete information. We investigate the interactions between donors and museums, when the former is uncertain about the commitment of a museum not to deaccess part of its endowment in the future. Our analysis shows that deaccessioning may reduce art donations to museums. Interestingly, public grants to museums cause a negative externality to a committed museum, which experiences a reduction in donations. Results provide intuitions for the widespread resistance to deaccessioning of museum associations, for their efforts to enforce common regulation restricting the use of proceeds to the acquisition of art, and also for the proliferation of private art museums.  相似文献   

2.
I study “donor governance,” which occurs when contributors to nonprofit firms place restrictions on their gifts to limit the discretion of managers. In a study of US art museums, I find that this practice has grown significantly in recent years, and it represents the largest source of permanent capital in the industry. When donor restrictions are strong, museums shift their cost structures away from administration and toward program services, and they exhibit very high savings rates, retaining in their endowments 45 cents of each incremental dollar donated. Retention rates are near zero for cash generated from other activities. Restricted donations appear to stabilize nonprofits and significantly influence their activities, but they reduce management flexibility and may contribute to lower profit margins. Rising donor governance in US art museums may represent a reaction by contributors to the industry’s high rates of financial distress, weak boards of trustees, and large private benefits of control enjoyed by managers.  相似文献   

3.
This paper examines the impact of the National Endowment for the Arts on private donations to the arts. The aim of the analysis is to assess whether public funding generates a crowding effect on private giving. We distinguish between institutional and sectoral crowding phenomena and discuss their possible implications.We used both a qualitative approach and an econometric model to estimate the effect of NEA introduction and appropriations on donations. Our results suggest that at the institutional level NEA grants do not generally induce donations to recipients while at the sectoral level appropriations and private giving are independent. The introduction of the agency appears to have caused a decrease in donations.  相似文献   

4.
This paper examines the allocation of corporate donations among variouscategories of recipients and the reasons underlying that allocation. Ananalytical model is utilized to determine the importance of profitability,firm size, advertising expenditures and type of business in determining thelevel of support for each activity. The results demonstrate that corporategiving to artistic/cultural activities is correlated with advertisingexpenditures, while donations to educational, civic and health causes are not.Thus, support for culture and the arts is a means of directly promoting thefirm, while giving to other causes fulfills the firm's goals throughalternative means.  相似文献   

5.
This paper analyzes the determinants of donations to public libraries testing the following hypothesis: Is there a crowd out effect from government funding of public libraries? I look at novel data, the Public Library Survey, and use an unbalanced panel of public libraries across the USA from 2000 to 2013. The results suggest a crowd in effect with an inverted U shape in all levels of government. Local government is associated with 4–6 cents increase in donations, state government with 20–23 cents increase, and federal government with 75 cents to 1 dollar and 33 cents.  相似文献   

6.
International Trade in Art   总被引：9，自引：0，他引：9  
This paper investigates the extent to which trade theory is applicable for explaining trade in art. Reproducible art is distinguished from unique art and it is argued that the trade in reproducible art is, at least in principle, governed by the same economic laws as trade in other differentiated products. However, trade theory needs to be amended in order to account for the addictive character of art consumption: culture specific consumption capital is built up with art consumption. Moreover, trade in unique art is mainly trade between consumers, a phenomenon largely ignored by standard trade theory. Empirical evidence on trade in art is presented and a gravity model of international trade in works of art is estimated. Finally, the paper discusses open questions for future research.  相似文献   

7.
We analyze art pricing in a unique dataset on Madrid inventories between 1600 and 1750. We estimate a price index for the Spanish art market that is used for a general historical analysis of art during this period, showing a large increase in the real price of paintings during the XVII century. Then we examine the price differential between domestic and foreign paintings: At the beginning of the century domestic production was priced substantially below imported paintings, but the price gap was gradually reduced during the century. We argue that such a price convergence was not the fruit of variations in real exchange rate, relative supply or home bias, but was associated with increasing prices for the new domestic painters of the XVII century. Increasing remuneration for painting may have induced artistic innovations by domestic producers and created the conditions for the development of the Siglo de Oro of Spanish art.  相似文献   

8.
This paper updates prior work by Pesando (1993) regarding art as an investment. Using world-wide auction prices for Picasso prints for the period 1977 to 1996, this paper establishes that (1) a recovery in the art market did occur in the mid-1990s, but (2) the real rate of return on this segment of the art market remains low relative to its risk. Indeed, the real rate of return is beneath that provided by U.S. Treasury Bills.  相似文献   

9.
Art and technology: A comparative study of policy legitimation   总被引：1，自引：1，他引：0  
The legitimation of technology policy is discussed from the point of view of the neoclassical and of the dynamic, Schumpeterian, approach. The results are presented, using the traditional categories of policy legitimation in welfare theory: public goods, externalities, and merit goods. Art policy legitimation is discussed within the same conceptual framework. The application of the dynamic approach to art policy leads to conclusions similar to the general conclusions about technology policy. A review of the postwar development of (Dutch) art policy supports the impression that art policy may be on its way to become a subspecies of technology policy.  相似文献   

10.
Research on cultural economics is very interested in the economic valuation of non-market goods, particularly in the field ofcultural heritage where contingent valuation techniques are currently being used with both parametric and non-parametric statistical methods to estimate the willingness to pay for cultural goods. In the literature analysed, the number of studies using semiparametric methods, however, is very limited. Our analysis is intended to help fill this gap by offering a parametric, non-parametric and semiparametric economic valuation of the National Museum of Sculpture (Museo Nacional de Escultura), located in Valladolid,Spain. In addition, we also gain insight on a controversial issue affecting most European museums, particularly those located in Latin countries: the role voluntary donations might play in the funding of public museums.  相似文献   

11.
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.
ART AS WORK     
This paper uses empirical work on a piece of performance art to think through the relation between ‘work’ and ‘art’, and by implication, ‘culture’ and ‘economy’. Beginning with the idea that the intelligibility of both is produced through similar forms of rule following and rule breaking, I suggest that this throws into question the empirical and historical novelty of the idea of the creative worker. As institutionalists have argued, the work of art is produced through its relation to various organizations, just as work organizations rely on creative rule bending and elaboration. Examples of contemporary art are enrolled in the argument along the way in order to suggest that we can find many insights into the nature of work, culture and economy in comparing the practices of artists with the practices of workers.  相似文献   

13.
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   

14.
Experts' opinions play an important role in the gastronomic market for the following reasons: information is imperfect and very costly to acquire and quality is, in large part, subjective and consumers need experts to define it. The number of guidebooks currently issued, their success (Michelin: 650,000 sold; GaultMillau: 200,000 sold) and the strong level of correlation generally obtained between prices and ratings or rankings (0.63 on average) for this class of activity illustrate this influence. Without experts, supply and demand would find it difficult to meet.Therefore, identifying the determinants of these evaluations of quality and then estimating their respective impact become relevant. According to the experts, the art of cooking is the only determinant that they take into account when selecting and then evaluating the chefs. For the chefs, the setting also appears to be a determinant and not the least important one.What is the best strategy to become a ``first rate'' chef? Would Alain Ducasse, one of the most famous French chefs, get the same rating in a roadside café as in a luxury restaurant? To answer these questions, a quality equation is estimated using an original database concerning 185 leading French chefs who have been selected in one of the most famous French guidebooks: GaultMillau (2000 edition). The results show that there are two strategies to become a ``first rate'' chef but that the art of cooking prevails over setting. This is in line with the observation that some gourmet restaurants tend to over-invest in luxurious surroundings.  相似文献   

15.
Are Multiple Art Markets Rational?   总被引：1，自引：1，他引：0  
We advance and subsequently test the proposition thatmarkets for fine art are rational, namely, that, inthe determination of price, traders make use of allrelevant art historical and critical information, asrevealed by hedonic content analysis, as well as allinformation on authenticity of the works offered forsale. If true, the proposition has consequences forpublic policy. Museums optimize choices among art historicallysignificant authentic paintings distributed asstochastic rare events in the tertiary market for art. Such paintings have few, if any, art historicallyequivalent substitutes, causing the demand for suchworks of art to be extremely inelastic. Museums tendto buy at the top of the information curve; payingprices which exceed market averages for similar art. As a result, society pays the cost of institutionalrisk aversion. In contrast, collectors often purchaseart before all art historical information is complete,and often earn a reward for assuming a risk due toincomplete information (Singer, 1991; Pomerhene, 1994).Collectors who can borrow to accumulate the highestcategory art can consume the services of their artcollection at zero cost. Stochastic transferfunctions fitted to time series of sales volume at thetwo top international auction houses confirm thehypothesis that the highest category of art is a quasisubstitute for financial instruments (liquid wealth).  相似文献   

16.
Art history has lost and rediscovered semiotics several times since the 1950s, and at the moment writers employ an eclectic mixture of theories derived mainly from Ferdinand de Saussure and Charles Sanders Peirce. Of the two, Peirce is possibly the more influential model, on account of his tripartite theory of iconic, indexical, and symbolic signs. (The Saussurean model is identified more closely with the poststructuralist moment in art history, beginning in the 1970s.) The question of semiotics is once again topical now that visual culture is consolidating as a discipline, because the new field can choose from a wide range of semiotic practices – or it can choose to bypass semiotics altogether. This essay is a contribution to that current state of affairs. My principal point is that Peirce is much stranger than he is taken to be: he is idiosyncratic and demanding, and at times outlandishly hermetic. For most of what art history and visual studies aim to do, Peirce is simply not necessary; and when he is pertinent, he is so mainly as a model for concertedly logical thinking of a sort that is rare in visual studies or art history.  相似文献   

17.
2009年2月3日，绍兴市委、市政府授于张杰先生“2008年度绍兴市市长奖”。他手捧着绍兴市市长奖给他的5万元奖金，对采访他的记者说，这5万元钱他决定拿出一半捐给绍兴市慈善总会，另一半捐给家乡上虞办教育事业。至此，这位82岁的华侨，在20年间累计捐给家乡上虞的助学费已达1200万元之多。在遍布他家乡的15所学校里，有  相似文献   

18.
Summary As is the case with other field theories, Urban Economics, Environmental Economics, etc. the microeconomics of the arts attempts to derive a set of particular propositions from the general propositions of Economic Theory. In the process a substantial amount of cross-fertilization takes place. The specific characteristics of art markets require modification or amplification of some general propositions of economic theory, which in turn may offer novel and possibly useful insights as well as testable hypotheses. The following propositions appear to emanate from the present paper.In general markets R & D efforts are directed towards product or process innovation. For the most part, a known consumer technology exists. Innovation in art markets involves product creation as well as the creation of a consumer technology capable of deriving satisfaction from consumption of the new product. In open markets, a non-patentable product would entail excessive free ridership. Such a state of affairs may discourage innovation. Primary sellers would tend to adapt to narrowly changing consumer technologies. Such was the case during most of art history up to the late 19th century. At present, museums and art critics act as quasi patent offices, which fosters innovation by assuring a positive sum game.A new consumer technology is expected to be demand-augmenting. Not necessarily in the sence of McCain [12] where discontinuous jumps in demand are postulated. Even if such shifts were to occur in individual demand curves, market demand will nevertheless be continuous. The present model presumes that the augmentation is mostly due to increasing numbers of art buyers entering as the new consumer technology casues substitution of one style for another (or one fad for another). Syndicate behavior is induced by the winners of the race who have successfully established a new consumer technology and subsequently extend an umbrella over the membership. In this manner the spoils are shared more equitably. This is a peculiarly modern phenomenon. In the past one could not put a Teniers above a Rembrandt or a Polidoro above a Raphael. The generally accepted rules of decorativeness, that is, craftmanship and composition were obvious and immediately perceptible by all.In certain instances syndicate behavior favors single leadership by an established dealer, or a small group of dealers with a proven track record in spawning new technologies. Collectors, too, are involved, by overpaying for art. The discovering collector creates entry barriers for other collectors and thus has a monopoly of discovery of purely intellectual appeal art. Followers may opt to reduce their rivalry in exchange for assurances that once the new technology is in place, they will be given the opportunity to recycle the art brought into being by the leader or leaders. Under certain conditions, as analyzed in the foregoing, this constitutes an optimal strategy.As in the classical case, entry reduces investment and drives rents to zero, if each firm invests a roughly equivalent amount in support of the prevailing consumer technology. There arises the limiting case, equivalent to pure competition (see EQ. 10). On the other hand, several counterveiling strategies are possible. For example, overpayment, as in the case of Rothko. This limits the artists' output in the market. Leftover art is donated or acquired by museums. Such art is no longer competitive, as opposed to art held by other collectors, which, diminishes art'sscarcity value.The most probable outcome of a Cournot-Stackelberg type behavior is a succession of leader-follower or leader-recyler type syndicates, each successively dissolving as new consumer technologies replace old ones. It is, of course, possible for several specialized syndicates to operate contemporaneously. The rate of turnover clearly depends on the speed of dissemination of information. The curator, critic, trustee, consultant has a vested interest in episodic art and an spawning new consumer technologies: if this were not so, there would be no need for the pre-eminance of the critic. He is the magician, the priest, the medicine man who knows the secret language and penetrates the mysteries.  相似文献   

19.
The article uses auction data collected from the eBay internet site to examine the effect of various parameters on number of bids and selling price of art. The article further uses an insight from the auction literature to gather evidence about whether art on eBay is purchased for consumption or investment purposes. The article argues that the evidence found of a positive relationship between the number of bids and the final price suggests that art sold on eBay is not, in general, investment art.   相似文献   

20.
ART-SCIENCE     
In this paper we examine the emergent field of art-science, part of a heterogeneous space of overlapping interdisciplinary practices at the intersection of the arts, sciences and technologies. Art-science is often thought to exemplify Nowotny et al.'s (2001) ‘mode-2’ knowledge production; indeed the institutions supporting art-science invariably claim that art-science contributes to the ‘contextualization of science’ by rendering scientific and technical knowledge more accessible and accountable to its publics. Our argument, however, is that this approach fails to capture the ways in which art-science exhibits its own complex trajectories, which cannot be grasped in terms of an epochal transition in the mode of knowledge production. Drawing on ethnographic research on art-science practitioners and institutions in the USA, UK and Australia, our first aim is to indicate the heterogeneity of art-science by contrasting distinctive forms and genealogies of art-science. A second aim follows. Rather than simply multiplying the connections between science and its publics, we suggest that art-science is instructive in highlighting radically divergent conceptions and practices of publicness, and point to two such forms. We examine, first, the relations between science, art and the public in the UK from C. P. Snow's ‘two cultures’ essay to the activities of the Wellcome Trust and Arts Council England. In these developments, art that is in dialogue with science is conceived primarily as a means by which the (absent) public for science can be interpellated: science is understood as complete, and as needing only to be communicated or applied, while art provides the means through which the public can be assembled and mobilized on behalf of science. We contrast this with a novel institutional programme in art-science pedagogy at the University of California, Irvine: the Masters programme in Arts, Computation and Engineering (ACE). Through the contents of the ACE teaching programme and the case of an art-science project concerned with the measurement of air pollution by ACE faculty member Beatriz da Costa, and with reference to the work of Hannah Arendt and Barbara Cassin, we suggest that art-science can act not so much as a way of assembling a public for science, but as a public experiment.  相似文献   

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