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on Cultural Economics |
| By: | Lasse Steiner; Bruno S. Frey; Magnus Resch |
| Abstract: | This paper analysis the global distribution of art collections and collectors´ biases with respect to the origin of artworks. Employing a unique dataset we find that the greatest number of private art collections are located in Europe, North America and Asia. There are relatively few collections in Latin America and Africa. The artists whose oeuvres dominate the markets for collected art come from North America, followed by Asian and European artists. The home bias in private art collections turns out to be strong in all continents and countries. It is highest for Asian and African collections and smaller for European and North American collections. The home bias can partly be accounted for by high export and import restrictions. |
| Keywords: | Art collection, home bias, trade restrictions, artists |
| JEL: | Z11 F14 K20 |
| Date: | 2013–11 |
| URL: | http://d.repec.org/n?u=RePEc:zur:econwp:135&r=cul |
| By: | Rudiger, Jesper |
| Abstract: | A characteristic of the news market is that consumers often cross-check information, i.e. observe several news outlets. At the same time, data on political media suggest that more partisan consumers are more likely to cross-check. We explore these phenomena by building a model of horizontal competition in newspaper endorsements. Without cross-checking, outlets are unbiased and minimally differentiated. When cross-checking is allowed, we show that cross-checkers are indeed more partisan than those who only acquire one report. Furthermore, cross-checking induces outlets to differentiate, and the degree of differentiation is increasing in the dispersion of consumer beliefs. Differentiation is detrimental to consumer welfare, and a single monopoly outlet may provide higher consumer welfare than a competitive duopoly. |
| Keywords: | News Markets; Media Bias; Cross-checking; Hotelling |
| JEL: | D82 D83 L81 |
| Date: | 2013–11–28 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:51786&r=cul |