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on Cultural Economics |
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Issue of 2023‒02‒13
six papers chosen by Roberto Zanola Università degli Studi del Piemonte Orientale |
| By: | Lin, Min-Bin; Wang, Bingling; Bocart, Fabian Y.R.P.; Hafner, Christian M. (Université catholique de Louvain, LIDAM/ISBA, Belgium); Härdle, Wolfgang K. |
| Abstract: | The big bang of non-fungible tokens (NFTs) has caused the birth of a brand new era for digital art. NFTs, driven by blockchain and smart contracts, provide both artists and art collectors an unprecedented marketplace which is equipped with more security, flexibility, publicity, and freedom to monetize. Unlike the conventional art market, NFT art market trades works of art in rapid succession and has no sluggish business cycle. Yet, the emergence of such a market has been considered to be packed with speculation and economic uncertainty. |
| Keywords: | Non-fungible token ; NFT ; blockchain technology ; digital art ; hedonic regression ; index construction ; robustness |
| JEL: | C14 C43 C51 G10 Z11 |
| Date: | 2022–11–18 |
| URL: | http://d.repec.org/n?u=RePEc:aiz:louvad:2022036&r=cul |
| By: | Park, Ji Hye (Korea Institute for Industrial Economics and Trade) |
| Abstract: | Webtoons, a digital cartoon format that originated in Korea, are now the global spotlight, having been established as next-generation hallyu content. As the consumption and supply of webtoons has expanded due to the spread of COVID-19 and the promotion of digital transformation, the size of the domestic webtoon industry grew 64.6 percent year-on-year in 2020, exceeding KRW 1 trillion. The webtoon industry is in full swing, with the domestic internet platforms Naver and Kakao dominating the market. Both have launched overseas services based on webtoon-specialized platforms. This paper we discusses future strategies and directions for webtoons’ effective entry into the global market, and strategies for establishing a system for continued growth in this sector. |
| Keywords: | webtoons; cultural content; cartoons; comics; digital comics; digital media; digital content; content creation; Korea; hallyu; Korean culture; content industry; intellectual property; manga; anime; animation; comics; publishing; OTT; platform media |
| JEL: | L00 L10 L80 L82 L86 L88 |
| Date: | 2022–12–01 |
| URL: | http://d.repec.org/n?u=RePEc:ris:kieter:2022_022&r=cul |
| By: | Park, Ji Hye (Korea Institute for Industrial Economics and Trade) |
| Abstract: | As the demand for non-face-to-face services has increased due to the COVID-19 pandemic, the conversion of offline services into online services has accelerated. Along with these changes in service provision and consumption behavior, people’s desire to have online experience that are similar to offline experiences online has also increased. The metaverse is currently attracting attention as a new technology that can satisfy this. The metaverse is a portmanteau of meta, which means transcendence and virtuality, and universe and refers to a virtual world that transcends reality. The metaverse has been mentioned as a next-generation service to succeed the Internet, and global companies such as Meta, Apple, and Microsoft are launching related technologies and services. In addition, as 5G services and metaverse-related technologies have been improved, an environment has been established to experience services similar to reality in virtual space. Currently, the metaverse is spreading mainly in content industries such as games, performances, Fortnite, and ZEPETO. Concerts and fan meetings, which were once only possible offline, are also being held on metaverse platforms. Users can create and sell content themselves, and in the metaverse individuals are able to actually engage in economic activities in combination with blockchain technology. This paper describes the salient features of metaverse technologies, the current status of the metaverse at home and abroad, and the direction of the next-generation content industry in the era of the metaverse. |
| Keywords: | metaverse; online services; technology; Korea; content industry; Meta; online games; Fortnite; cultural content |
| JEL: | L63 L83 O14 O33 |
| Date: | 2023–01–10 |
| URL: | http://d.repec.org/n?u=RePEc:ris:kieter:2021_023&r=cul |
| By: | Khwan Kim; Noah Askin; James A. Evans |
| Abstract: | Prior research suggests that taste preferences relate to personality traits, values, shifts in mood, and immigration destination, but understanding everyday patterns of listening and the function music plays in life have remained elusive, despite speculations that musical nostalgia may compensate for local disruption. Using more than a hundred million streams of 4 million songs by tens of thousands of international listeners from a global music service catering to local tastes, here we show that breaches in personal routine are systematically associated with personal musical exploration. As people visited new cities and countries, their preferences diversified, converging towards their destinations. As people experienced COVID-19 lock-downs, and then again when they experienced reopenings, their preferences diversified further. |
| Date: | 2023–01 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2301.03716&r=cul |
| By: | Kunz-Kaltenhäuser, Philipp; Gänßle, Sophia; Budzinski, Oliver |
| Abstract: | Experts' voting behavior is conjectured to be more objective than peer voting (own group/peers) and public voters (everyone interested), who are supposedly influenced by all sorts of subjective aspects. We examine differences in voting behavior between these groups by analyzing the voting outcomes for all-star teams in American Football. This paper analyzes the impact of performance as well as non-performance markers and team effects on the voting outcome. It contains a comparative analysis across the mentioned groups to elaborate on differences. The econometric analysis uses unbalanced panel data of All-Pro and Pro Bowl player selections over 78 seasons (1951-2019). It applies panel probit regression to assess the impact of the markers on the outcome probability of winning one of the All-Star awards. We find that expert, peer, and public voting show similarities and are partially driven by the same performance and non-performance markers. However, none of the three analyzed voting systems is free from the influence of non-performance markers. We find exposure effects as well as effects from team affiliation in all of them, including in fact expert voting. Positive effects of team success are found in expert and, to a lesser extent, in peer voting. Team-specific effects are found in public voting, providing evidence for partisanship voting by fans. Our results shed doubt on the suspected objectiveness of expert voting. Furthermore, they fortify the notion of public voting being inefficient at identifying objective quality and extend the literature on voting biases among experts, peers, and the general public. |
| Keywords: | Voting Behavior, Voting Bias, Expert Voting, Public Voting, Sports Economics, National Football League, American Football |
| JEL: | D72 Z20 L83 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:tuiedp:170&r=cul |
| By: | Luc Arrondel (PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, PJSE - Paris Jourdan Sciences Economiques - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Cédric Zimmer (LIRSA - Laboratoire interdisciplinaire de recherche en sciences de l'action - CNAM - Conservatoire National des Arts et Métiers [CNAM] - HESAM - HESAM Université - Communauté d'universités et d'établissements Hautes écoles Sorbonne Arts et métiers université, CEET - Centre d'études de l'emploi et du travail - CNAM - Conservatoire National des Arts et Métiers [CNAM] - HESAM - HESAM Université - Communauté d'universités et d'établissements Hautes écoles Sorbonne Arts et métiers université - M.E.N.E.S.R. - Ministère de l'Education nationale, de l’Enseignement supérieur et de la Recherche - Ministère du Travail, de l'Emploi et de la Santé); Richard Duhautois (LIRSA - Laboratoire interdisciplinaire de recherche en sciences de l'action - CNAM - Conservatoire National des Arts et Métiers [CNAM] - HESAM - HESAM Université - Communauté d'universités et d'établissements Hautes écoles Sorbonne Arts et métiers université) |
| Abstract: | There have been many studies of the impact of manager turnover on club performance, especially in European leagues. Our paper examines the impact of within-season manager change on club performance using information from the French Ligue 1 over the period 1998-2018. The clubs that change their manager have different characteristics from clubs that do not. Some may be observed (as points before dismissal), and others remain unobservable in the data. We use an empirical method that takes observable differences between clubs into account (through exact matching) and corrects for unobserved characteristics (through difference-indifferences). Our results show that the overall effects of a change of manager on team performance are insignificant even if we take into account some characteristics of the coaches. |
| Abstract: | De nombreuses études ont analysé l'impact du changement d'entraîneurs sur les performances des clubs, notamment dans les championnats européens. Nous utilisons ici les informations provenant de la Ligue 1 sur la période 1998-2018. Les clubs français qui changent d'entraîneur ont des caractéristiques différentes des équipes qui ne le font pas. Certaines peuvent être observées (comme les points avant le licenciement), d'autres restent inobservables. Notre méthode empirique prend en compte les différences observables entre les clubs par appariement exact et corrige des caractéristiques non observées par doubles différences. Nos résultats montrent que les effets d'un changement d'entraîneur sur la performance de l'équipe ne sont pas significatifs, et ce même si l'on tient compte de certaines caractéristiques des coachs. |
| Keywords: | Football manager dismissals, Leadership, Team performance, Exact matching, French Ligue |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:hal:pseptp:halshs-03917462&r=cul |