Auction houses use both in-house and third-party guarantees for sellers who are concerned about the risk that not enough bidders will enter the auction for their works. Auction houses are compensated for guarantees by buyers’ commissions and successful sales after attracting important...

This article provides an applied investigation of video game users. We estimate zero-inflated ordered probit models to control for an excess of zeros in our ordinal dependent variable. We find that video games playing is not negatively associated with the involvement in other cultural practices....

Severe budget cuts in the cultural sectors of many countries have spurred disparate suggestions for alternative sources available to public institutions. Deaccessioning may contribute to guarantee the survival of cultural institutions without serious negative impacts on the fruition of cultural...

The market for modern Indian art is an emerging art market, having come into a proper existence only in the late 1990s. This market saw tremendous growth in its initial years and then a downturn that started around 2007-2008. Using data from auctions conducted by a major Indian art auctioneer,...

The Log Periodic Power Law is a model used to define and measure speculative bubbles. This model has proven useful to track bubbles and even predict crashes of liquid asset classes. Using this methodology coupled with properties of cointegration between stocks and art, the 1980s price bubble on...

Concert etiquette demands that audiences of classical concerts avoid inept noises such as coughs. Yet, coughing in concerts occurs more frequently than elsewhere, implying a widespread and intentional breach of concert etiquette. Using the toolbox of (behavioral) economics, we study the social...

Some countries, especially in Europe, regulate the textbook market due to its special characteristics. In 2000, the Spanish Government passed a law that relaxes resale price maintenance and lets retailers give discounts of up to 25% off the gross price. Traditional bookshops do not favour this...

The analysis of the relationship between movie reviews and consumer's decision process has focused mainly on the side of critics, who have been defined as "influencers" or as "predictors" (Eliashberg & Shugan, 1997). Also, new ways to measure the impact of the critic have been introduced...

This study investigates agglomeration effects for classical music production in a wide range of cities for a global sample of composers born between 1750 and 1899. Theory suggests a trade-off between agglomeration economies (peer effects) and diseconomies (peer crowding). I test this hypothesis...

The role of economic factors, such as family income, the price of illegal reproductions of books, the enforcement rules and the expected penalties are considered the main determinants of the possible infringements of the copyright law. However, the comparison between individual economic gains...