In Aristoteles' bestem Staat ist die Wirtschaft an politischen Vorgaben ausgerichtet, die ihrerseits ethisch determiniert sind. Aristoteles bemüht sich um empirische Absicherung, soweit diese mit seinen ethischen Axiomen konform geht. Bei der Zurückweisung der platonischen Weiber- und...

The art market has seen boom and bust during the last years and, despite the downturn, has received more attention from investors given the low interest environment following the financial crisis. However, participation has been reserved for a few investors and the hedging of exposures remains...

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...

The aim of this study is to estimate the causal effect of cultural participation on health status. Cultural activities may directly impact upon health through palliative coping or substituting health-compromising behaviors. Cultural engagement may also facilitate the development of social...

This article poses a new methodology applying the statistical analysis to the economic literature. This analysis has never been used in the history of economic thought, albeit it may open up new possibilities and provide us with further explanations so as to reconsider theoretical issues. With...

We analyze the evolution of the price of paintings in the XVII century Amsterdam art market to test a hypothesis of endogenous entry: higher profitability should attract more entry of painters, which in turn should lead to artistic innovations and more intense competition. We build a price index...

We analyze art pricing in a unique dataset on Madrid inventories between 1600 and 1750. Hedonic regressions reveal a number of interesting facts about the taste of Baroque Spanish collectors and the imports of foreign paintings. The hedonic price index shows an impressive increase in the price...

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...

There are several striking peculiarities of the arts labor market that have attracted the attentions of researchers in the last several decades: first is constant long run excess supply of arts labor; second, artists are more likely to be multiple-job-holders than other professions; third,...

Despite numerous studies on skill development,we know little about the causal effects of music training on cognitive and non-cognitive skills. This study examines how long-term music training during childhood and youth affects the development of cognitive skills, school grades, personality, time...