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on Cultural Economics |
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Issue of 2017‒08‒27
four papers chosen by Roberto Zanola Università degli Studi del Piemonte Orientale |
| By: | Herz, Benedikt; Kiljanski, Kamil |
| Abstract: | This paper presents estimates of lost movie sales due to unpaid movie consumption. We are the first to provide estimates that are recent, representative of the internet-using population, and cover multiple countries. Based on an online questionnaire with almost 30,000 respondents, we document that one unpaid (first) viewing of a movie displaces about 0.37 units of paid viewings. Using a back-of-the-envelope calculation, we show that this implies that unpaid movie viewings reduced movie sales in Europe by about 4.4% during the sample period. Lost sales differ substantially by country: they are in the range of 1.65% for Germany and 10.4% for Spain. We also find that 94% of lost sales are due to unpaid viewings by a small group of only 20% of consumers. Our findings have important implications for copyright policy. |
| Keywords: | movie piracy, copyright, displacement |
| JEL: | O34 |
| Date: | 2016–09–22 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:80817&r=cul |
| By: | Healy, Gerald T., III; Tan, Jing Ru; Orazem, Peter |
| Abstract: | Forbes Magazine estimates of annual revenues, costs and team values for professional sports teams are used to derive market power measures for teams in four major professional sports leagues: the MLB, NBA, NHL, and the NFL. Two variants of the Lerner Index, one that reflects short-term operations for the past year and another reflecting the long-run net present value of the franchise are derived over the 2006-2016 period. Only the long-run measure provides estimates that are always consistent with theoretical requirements. Analysis of variance of long-run market power shows that local market factors and past team performance have less impact on market power than common league-wide effects. Team market power depends least on local team effects in leagues that have stronger revenue sharing policies. Price-cost margins are higher for professional teams in North American than for the most valuable European soccer teams, consistent with the stronger exemption from anti-trust law in the U.S. |
| Date: | 2017–08–10 |
| URL: | http://d.repec.org/n?u=RePEc:isu:genstf:201708100700001030&r=cul |
| By: | Anastasia Kazun (National Research University Higher School of Economics); Anton Kazun (National Research University Higher School of Economics) |
| Abstract: | December 19, 2016, saw three tragedies simultaneously, that could not go unnoticed by the Russian media: dozens of people died as a result of a surrogate alcohol poisoning in Irkutsk, a Russian ambassador was killed in Turkey, and a terrorist attack took place at the Christmas market in Berlin. In this article using the network agenda theory we analyze how these tragedies were covered by various types of mass media: on 11 federal TV channels, in 1,974 print newspapers, in 34,905 online newspapers and 2,574 blogs. We believe that direct and indirect control of the agenda by the state can be exercised by creating a network of events that will canalize correctly discussions about tragedies. We showed that ties between the tragedy and a network of other acute issues are more important than objective circumstances, such as the number of victims or a geography of the event. The context in which the events were looked at led to greater attention to the killing of the ambassador and less attention to surrogate alcohol poisoning. The Russian mass media paid significantly less attention to the Berlin terror attack, it yet was used as a supplement to the demonstration of importance of the fight against terrorism |
| Keywords: | alcohol, construction of problems, Internet, mass media, network agenda-setting, press, Putin, Russia, terrorism |
| JEL: | Z |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:hig:wpaper:48/ps/2017&r=cul |
| By: | Victor Matheson (Department of Economics, College of the Holy Cross); Robert Baade (Department of Economics and Business, Lake Forest College) |
| Abstract: | In this paper, we explore the costs and benefits of hosting the Olympic Games. On the cost side, there are three major categories: general infrastructure such as transportation and housing to accommodate athletes and fans; specific sports infrastructure required for competition venues; and operational costs, including general administration as well as the opening and closing ceremony and security. Three major categories of benefits also exist: the short-run benefits of tourist spending during the Games; the long-run benefits or the "Olympic legacy" which might include improvements in infrastructure and increased trade, foreign investment, or tourism after the Games; and intangible benefits such as the "feel-good effect" or civic pride. Each of these costs and benefits will be addressed in turn, but the overwhelming conclusion is that in most cases the Olympics are a money-losing proposition for host cities; they result in positive net benefits only under very specific and unusual circumstances. Furthermore, the cost-benefit proposition is worse for cities in developing countries than for those in the industrialized world. In closing, we discuss why what looks like an increasingly poor investment decision on the part of cities still receives significant bidding interest and whether changes in the bidding process of the International Olympic Committee (IOC) will improve outcomes for potential hosts. |
| Keywords: | sports, public finance, economic impact, New Orleans, Hurricane Katrina |
| JEL: | L83 |
| Date: | 2016–02 |
| URL: | http://d.repec.org/n?u=RePEc:hcx:wpaper:1605&r=cul |