This chapter critically assesses, from an economic viewpoint, the role of the arts and culture in urban and regional … urban revitalization are discussed including the role of tourism, the non-market demand for arts and culture as an element … influence of regional economic development on the demand for and supply of culture in the region is analyzed and the location of …

to sell part of its art endowment. Our main results show that when deaccessioning is allowed, contributions to museums of … of public museum directors, for their efforts to enforce common regulation, and also for the proliferation of private art …

of the new varieties arriving into the economy. This leads to lower startup rates and greater concentration of sales …

private information. Path-dependency can be of two types contingent on whether agents act with the crowd (herding) or against … uncertainty that their predecessors acted purely for liquidity motives. In this setting we recover herding and contrarianism and …-dependent behavior more easily than poorly informed ones. Moreover, we illustrate how a market dominated by herding features a price that …

become extremely and wrongly confident about the state of the world -- Social learning ; Non-Bayesian updating ; Herding …

data, participants forgo much larger parts of earnings when herding naively than when relying too much on their private …. -- Information cascades ; Laboratory experiments ; Naive herding …

private information. Path-dependency can be of two types contingent on whether agents act with the crowd (herding) or against … uncertainty that their predecessors acted purely for liquidity motives. In this setting we recover herding and contrarianism and …-dependent behavior more easily than poorly informed ones. Moreover, we illustrate how a market dominated by herding features a price that …