Showing 1 - 10 of 14
The present work offers a review on two divergent schools of thought regarding the subject of money and highlights why understanding it is important to grasp the workings and nature of the concept of money. We adopt a spontaneous order perspective on social institutions, considering money as...
Persistent link: https://www.econbiz.de/10013170942
The digital revolution has led to a quantification of ever more areas of human life and society. At the same time, there is an explosion of the number of awards, which by their very nature are based on non-quantified performance. Will quantification take over completely, leading to...
Persistent link: https://www.econbiz.de/10011700242
It is estimated that only 5% of musicians in Italy are regularly employed. In an attempt at understanding such a peculiar situation, we build a theoretical model of the musicians' labour market in which we embed the main institutional features of the Italian system. We notice how the presence of...
Persistent link: https://www.econbiz.de/10003883019
Four types of economicsʺ relevant for institutional analysis are distinguished: Standard Neoclassical Economics; Socio-Economics or Social Economics; New Institutional Economics; and Psychological Economics (often misleadingly called Behavioural Economics). The paper argues that an extension of...
Persistent link: https://www.econbiz.de/10003872188
Culture has attributes of a global public good that needs to be preserved for mankind as a whole. World Culture Certificates are proposed to efficiently preserve World Heritage. The community of nations has to agree on the Global Heritage List and how much each nation is to contribute to that...
Persistent link: https://www.econbiz.de/10003872401
The UNESCO World Heritage List contains the 900 most treasured sites of humanity's culture and landscapes. The World Heritage List is beneficial where heritage sites are undetected, disregarded by national decision-makers, not commercially exploitable, and where national financial resources,...
Persistent link: https://www.econbiz.de/10003974639
Museums have many different goals beyond efficiency such as social equity, financial revenue, attracting donors and gaining international, regional or local prestige. Various pricing schemes are being discussed with the aim of reaching these goals. The classical ones are entry prices and free...
Persistent link: https://www.econbiz.de/10003997593
The paper analyses the impact of age on the ranking of recorded popular songs in the Dutch Radio2 Top2000 chart in the years 1999-2013. We measure the competition between the loss of collective memory and nostalgia with respect to popular songs. Nostalgic feelings seem to be relevant to recorded...
Persistent link: https://www.econbiz.de/10010246058
After describing the essential features of the book market, a welfare analysis of the fixed book price agreement is given. Allowance is made for the opportunity cost of reading. Theoretically, the agreement pushes up book prices and depresses book sales. However, more titles will be published,...
Persistent link: https://www.econbiz.de/10011507914
Rare books of political economy are eminently collectable. Using historical prices, I employ hedonic regressions to estimate financial returns to collecting the works of ten eminent political economists and develop a price index for this corpus of collectables. For the observation period...
Persistent link: https://www.econbiz.de/10012437910