Purpose of this article is to introduce the concept of a new cultural institution, "medialab". Media laboratory is an interdisciplinary institution that combines the tasks of scientific, educational, cultural and artistic institutions. They are spaces in which technology and digital media are...

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...

In the standard neoclassical model consumers use all the available information and the demand for goods depends exclusively on preferences and prices whereas other spurious information do not play any role. In the market for books, we investigate if – in contrast to the standard model – the...

Product quality is often unobservable ex-ante and consumers rely on experts' judgments, sometimes in the form of ratings or awards. Do awards affect consumers' choices or, conversely, are they conferred on the most popular products? To disentangle this issue, we use data about the most important...

I report historical prices and estimate financial returns to investing in rare books. My sample consists of 25 fiction titles recommended by Clifton Fadiman in his 1960 Lifetime Reading Plan. Relying on prices realized at American and British auction houses between 1975 and 2018, I use hedonic...

The dynamics of the art market is usually presented using price perspective, price indexes for the market and financial returns. In this paper the value and volume approach is proposed, that haven't been considered in aggregative way for a longer period of time in the literature. The...

No good comparable data on sizes of cultural sectors of the countries of Europe exist. Still, local and national governments of Europe spend substantial resources on culture and cultural sectors contribute significantly to employment and national income. After briefly describing special features...

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 paper analyses whether and how municipalities influence each other in this decision to spend resources on the arts (using data...

This study examines the degree to which creative industries fit regional economic settings in the developing world. In so doing, we examine the characteristics of regions where clusters of these industries are found, particularly in Indonesia. Our findings show that creative industries develop...

Der vorliegende Beitrag untersucht Arbeitsverhältnisse der Kulturund Kreativberufe. Es gibt einige empirische Anhaltspunkte, dass sich hier eine neue Stufe der Flexibilisierung von Arbeit vollzieht, die als Erwerbshybridisierung zu beschreiben ist. Die Frage ist, unter welchen beschäftigungs-...