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1.
Peder Anker 《Minerva》2007,45(4):417-434
Buckminster Fuller’s experiences in the Navy became a model for his ecological design projects and suggestions for the global management of ‘Spaceship Earth’. Inspired by technocratic ideas of the 1930s, Fuller envisaged, in the 1970s, an elitist world without politics, in which designers were at the helm, steering the planet out of its environmental crises.
Peder AnkerEmail:
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2.
This paper applies a perpetual option-pricing model in examining historical returns on paintings. A key development of the paper is formalizing a structural relationship between rational investment decisions and historical returns to art ownership. In this regard the options’ framework yields choice-theoretic implications on the relationship among risk, convenience yields from art ownership, and investor ‘hurdle prices’—prices triggering the purchase and sale of artworks at auction. The methodology offers testable implications concerning the adjustment dynamics in the relationship between historical art returns and risk-free yields. The implications are examined in a case study of paintings of major art schools using error correction methodology. We find evidence of a long-run equilibrium relationship between painting types and risk-free bond yields, and some indication of buyers and sellers preferring exchange environments not prone to “speculative resales.”
Carlos A. UlibarriEmail:
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3.
This article compiles original data relating to artists’ place of birth and work migration patterns using various art history dictionaries. The broad historic pattern, from the 13th to the 20th century, of the birth locations of prominent artists is examined, followed by a detailed study of the work migration patterns of prominent artists in two important situations, namely Renaissance Italy and France in part of the 19th century. The evidence indicates a marked clustering of activity of prominent artists, both arising from birth location and migration patterns. Some possible explanations for the observed patterns are briefly outlined.
John O’HaganEmail:
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4.
Roy Macleod 《Minerva》2008,46(1):53-76
In 1925, A.J. Balfour, first Earl Balfour and author of the famous ‘Balfour Declaration’, attended the inauguration of the Hebrew University in Jerusalem. His education and experience of foreign policy equipped him to take a prominent role. However, the conditions of strife-torn Palestine weighed heavily upon him, and raised wider interests of imperial concern. This essay recounts the circumstances leading to his visit, and suggests that, whatever the region’s political destiny, Balfour’s vision of science-based economic development would play an essential role in crafting its future.
Roy MacleodEmail:
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5.
The cultural entrepreneur and the creative industries: beginning in Vienna   总被引:1,自引:1,他引:0  
In this paper on the creative industries and cultural entrepreneurship I take my point of departure in Richard Caves’ Creative Industries [Caves, R. (2000). Creative industries: Contacts between art and commerce. Cambridge, MA: Harvard University Press.]. While Caves draws heavily on economic analysis and contemporary sociology in his excellent analysis of these two topics, he does not use the sociological classics at all. The main purpose of the paper is an attempt to remedy this, by drawing attention to the possible contribution that the works of Max Weber, Emile Durkheim, and Georg Simmel can make to our understanding of the creative industries and cultural entrepreneurship. Since this paper was prepared as a keynote address for the 2006 conference of the Association for Cultural Economics International in Vienna, I also discuss Schumpeter’s ideas on art and entrepreneurship, ideas which grew out of Viennese culture.
Richard SwedbergEmail:
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6.
Xu  Ang 《Minerva》2008,46(1):37-51
This essay describes China’s participation in international science organizations during the past two decades. It argues that, whilst progress has been made, serious problems remain. It concludes that increased attention to communication and exchange, and the creation of a favourable international image in science and technology are important priorities for China.
Ang XuEmail:
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7.
Edgeir Benum 《Minerva》2007,45(4):365-387
This essay explores how the Organisation for Economic Co-operation and Development (OECD) and Norway became linked into a science policy discourse that radiated throughout the developed world. Despite political differences, this discourse changed forever the expectations by which Norway’s universities and its fundamental research institutions were to operate.
Edgeir BenumEmail:
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8.
A shared activity or pursuit can have the effect of bringing about cultural convergence in the form of patterns of behaviour and consumption. This idea is supported by the Axelrod (1997) thesis, which suggests that cultures are more likely to interact and subsequently converge if they have shared traits: one of these being the use of technology. This paper seeks to apply such a cultural perspective to the body of published literature on deviations from the law of one price. Adopting a similar methodology to the popular ‘Big Mac’ index, disparity between official market exchange rate and the real rate of exchange between two currencies is measured using local prices of video game consoles. The results of the study suggest that, while a degree of pricing and cultural convergence across broad geographic areas is observed, many major global currencies are trading at levels that are quite significantly different to that which is suggested by purchasing power parity (PPP) theory.
Joe CoxEmail:
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9.
This article presents an empirical study of paintings that have failed to meet their reserve price at auction. In the art trade, it is often claimed that when an advertised item goes unsold at auction, it will sell for less in the future. We have constructed a new dataset specifically for the purpose of testing this proposition. To preview our results, we find that paintings which come to auction and failed return significantly less when they are eventually sold than those paintings that have not been advertised at auction between sales. These lower returns may occur because of common value effects, idiosyncratic downward trends in tastes, or changes in the seller’s reserve price.
Kathryn GraddyEmail:
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10.
Previous studies of the movie industry have raised questions concerning the problematic relationship between the success-related aspects of artistic excellence and commercial appeal. The present article proposes that—when the former is measured by industry recognition (Oscars and other awards) and the latter by market performance (box office and video rentals) and when the former hinges on the evaluative judgments of reviewers and consumers (ratings of excellence) and the latter on the level of buzz among these audience members (amount of attention, word of mouth, or click of mouse)—the two phenomena are essentially separable as independent paths to conceptually distinct and empirically uncorrelated aspects of motion-picture success. An analysis of data for 190 movies from the year 2003 shows that reviewer-and-consumer evaluations and buzz respond differently to a film’s marketing clout (production budget, opening screens, and opening box office) and that these audience responses contribute independently to a film’s industry recognition and market performance along two separable paths. These findings suggest various implications for movie marketers, film producers, actors or actresses, and other members of the motion-picture industry.
Michela AddisEmail:
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11.
For academic administrators, the management of research remains a matter more of hope than expectation. It has proved particularly difficult to measure quality. Managers typically view research as an ‹asset’. This essay argues that it is more useful to view research and its management as ‹process’, and explores the implications of doing so for managers and researchers alike.
Paul H. J. HendriksEmail:
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12.
Previous literature has documented the impact of critics on audience choices of movies. We investigate three issues regarding professional critics in the motion picture industry. First we document whether and to what extent critics and their recommendations exhibit a statistical bias toward specific studios. We show that reviews by a number of critics are significantly affected by the film distributor’s identity. A second question is whether audiences are able to distinguish between biased and unbiased critics. We cannot support the view that audiences put less weight on the views of biased critics; in fact, they may listen to them more. Third, we try to characterize critics who are more prone to bias. Surprisingly, but in accord with reputation models, we find that more reputable critics may be more biased; in particular, critics based in L.A. tend to significantly prefer specific studios.
Suman BasuroyEmail:
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13.
We use prices realized for Picasso prints at auctions worldwide, as well as the 100 prints that comprise his Vollard Suite, to test the law of one price: the proposition that identical art objects sold contemporaneously should command the same price regardless of the auction house or geographic region where the sale takes place. Picasso is the most prolific printmaker of the twentieth century and, from 1977 to 2004, his prints appreciated in price significantly faster than the prints of modern masters as a whole. We find that Picasso prints sold in the United States command higher prices than in Europe. However, prices realized at Sotheby’s in New York are no longer higher than at Christie’s in New York, nor at Kornfeld than at other auction houses. We find evidence of “irrational exuberance” in the transitory nature of the extraordinary prices realized for the Picasso prints included in the 1997 sale of the collection of Victor and Sally Ganz at Christie’s in New York. More generally, we find substantial noise in auction outcomes, a result well known to savvy auction goers.
Pauline M. Shum (Corresponding author)Email:
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14.
Using data on the ‘career’ paths of one thousand ‘leading scientists’ from 1450 to 1900, what is conventionally called the ‘rise of modern science’ is mapped as a changing geography of scientific practice in urban networks. Four distinctive networks of scientific practice are identified. A primate network centred on Padua and central and northern Italy in the sixteenth century expands across the Alps to become a polycentric network in the seventeenth century, which in turn dissipates into a weak polycentric network in the eighteenth century. The nineteenth century marks a huge change of scale as a primate network centred on Berlin and dominated by German-speaking universities. These geographies are interpreted as core-producing processes in Wallerstein’s modern world-system; the rise of modern scientific practice is central to the development of structures of knowledge that relate to, but do not mirror, material changes in the system.
David M. EvansEmail:
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15.
Funding agencies in Canada are attempting to break down the organizational boundaries between disciplines to promote interdisciplinary research and foster the integration of the social sciences into the health research field. This paper explores the extent to which biomedical and clinician scientists’ perceptions of social science research operate as a cultural boundary to the inclusion of social scientists into this field. Results indicated that cultural boundaries may impede social scientists’ entry into the health research field through three modalities: (1) biomedical and clinician scientists’ unfavourable and ambivalent posture towards social science research; (2) their opposition to a resource increase for the social sciences; and (3) clinician scientists procedural assessment criteria for social science. The paper also discusses the merits and limitations of Tom Gieryn’s concept of boundary-work for studying social dynamics within the field of science.
Brian D. HodgesEmail:
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16.
Why has cultural economics ignored copyright?   总被引:1,自引:1,他引:0  
My stance is that copyright policy should be viewed as part of cultural policy; cultural economists have had a great deal to say about subsidy and cultural policy but very little about copyright, though cultural economics is well placed to analyse copyright as an incentive to creativity in the creative industries because of its understanding of cultural policy and of artists’ labour markets. The article contrasts subsidy and copyright as policy tools and briefly discusses two current policy problems in relation to copyright—regulating copyright collection societies and the so-called ‘copyright levy’—arguing that these are the sort of issues cultural economists could (and should) be dealing with.
Ruth TowseEmail:
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17.
Governments often see it as their responsibility to support cultural life and at times spend a significant amount of resources in the pursuit of this goal. The present article analyses whether and how municipalities influence each other in this decision to spend resources on the arts (using data on local government cultural spending in 304 Flemish municipalities in 2002). Following ‘central place theory’, the focal point of the analysis is the idea that––especially for cultural expenditures––large municipalities (and, specifically, ‘central places’) may affect their neighbours’ behaviour differently than small municipalities. The empirical analysis supports this idea. Indeed, we show that Flemish municipalities’ cultural spending is generally positively affected by that in neighbouring municipalities. This pattern is, however, significantly more complex for municipalities neighbouring the 13 largest Flemish cities.
Benny Geys (Corresponding author)Email:
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18.
This article investigates the effect of a Tony nomination or win on the demand facing a Broadway production using a panel of weekly revenues for Broadway productions from 1996 to 2007. Our results indicate that the effect of a nomination or win is positive in the week of the announcement and gradually increases in successive weeks, presumably due to publicity and word-of-mouth. Winners experience an increase in demand as late as 1 year later when awards are publicized for the following season. Moreover, nominees that do not win the award are penalized heavily in the weeks following the Award announcements. We find that winning a Tony Award increases a production’s revenues by 12% in the week immediately following the Awards.
Lesley ChiouEmail:
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19.
This article provides estimates of price and income elasticities of demand for German public theatre, using a large and reliable data set for 178 theatres over 40 years (1965–2004). It is posited that the consumption of the performing arts is a time-intensive activity for which both a theatre ticket and leisure time are necessary. Thus, the impacts of ‘full-income’ (‘leisure time income’ added to disposable income) and the price of leisure time on theatre attendance are examined. The findings indicate that the demand for the performing arts is own-price inelastic. The disposable income elasticity is significant, positive and equals approximately one. In contrast, the full-income elasticity is well above one and greater than usual income elasticity indicating that the performing arts are a luxury good when leisure time income is included in the consumer’s budget. The positive full-income effect is, however, offset by the negative price of leisure effect indicating that leisure time is a complement for the performing arts. Additionally, three objective quality characteristics of theatrical productions which can positively influence theatre demand are examined.
Marta ZiebaEmail:
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20.
Trade in information goods is particularly sensitive to the strength of intellectual property rights (IPR) and encounters an apparently different pattern of imitation threat compared with manufacturing trade, but the information goods trade–IPR nexus is less systematically investigated. This article analyzes whether and how U.S. information goods exports are sensitive to national differences in IPR protection and the degree of threat-of-imitation from the dynamic perspective. Employing the technique of instrumental variables for a dynamic panel model to consider the hysteretic effect and controlling the endogeneity problem, the empirical results show that the strength of the importing country’s IPR protection overall exhibits a trade-enhancing effect, supporting the standpoint that stronger IPR protection will induce more trade. Moreover, we adopt the piracy rate as a proxy for threat-of-imitation to examine its role on the information goods trade–IPR nexus. Empirical findings validate the prevalence of the market expansion effect wherever the degree of imitation threat of importing countries is high or low, because the technology level and production cost of reproduction are very low. It implies that the existing theory on threat-of-imitation may not apply to the information goods trade.
Yi-Ju HuangEmail:
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