This fall, three (out of four) CEOS-Cultural Economics Online Seminars celebrate the recipients of the prizes awarded at the ACEI 2023 conference in Bloomington, namely the Presidents’ Prize (on 12 September), the Víctor Fernández Blanco Prize (former Young Researchers Workshop Best Paper Award, on 14 November) and the Pommerehne Prize (on 12 December). Please mark your calendars and join our next CEOS!
The seminar will take place live on Tuesday, 12 December 2023 at 2pm GMT (London time) at the following teams link.
Abstract: We provide evidence for the behavioral biases of anchoring and loss aversion in paintings sold at auction. We find that anchoring is more important for items that are resold quickly and that the effect of loss aversion increases with the time that a painting is held. This evidence contributes significantly to the empirical evidence of the endowment effect: of increasing loss aversion with the length of holding. However, we do not find evidence that investors can take advantage of these behavioral biases.
Jianping Mei is an associate professor of finance at the Stern School of Business, New York University. His major areas of research include international finance, asset pricing, and real asset finance. He has published over 30 articles in American Economic Review, Journal of Finance, Review of Financial Studies, Real Estate Economics, and other academic journals. He has taught a highly popular MBA course on Emerging Market Finance based on his recent book with Burton Malkiel (Global Bargain Hunting). He has developed a Fine Art Price Index with Michael Moses. He has received several “Best Research Paper Award” from various academic organizations. His research has been covered extensively by the major news media in the U.S., U.K., China, India, Italy, Germany, Netherland, Japan, Canada, Hong Kong, Korea, and Singapore.
The seminar is coordinated by Elisabetta Lazzaro.
The Cultural Economics Online Seminar (CEOS) series provides a forum to bring members of the ACEI community together to learn about the latest research taking place in the field. CEOS connects researchers worldwide to share their work in cultural economics and related areas.
The series features the latest research from emerging through to well established scholars from around the globe. Presentations showcase a wide variety of research within cultural economics broadly defined in terms of both topic and method.
Each seminar is conceived as a conversation between two (or more) keynote speakers on a current key issue, and corresponding methodological approaches, in cultural economics, in dialogue with other related disciplines (spanning management, political sciences, law, sociology, statistics, philosophy, arts, computer science, engineering, etc.), as well as practice.
Seminars take place live on the second Tuesday of the month, usually at 3 to 4 pm (1 hour, London time) – hours might vary depending on speakers’ time zones – throughout most of the year. Check here for the time in your region.
The CEOS Organisational Committee consists of:
Special Session Coordinator:
Current members of the Advisory Committee are:
Recordings of former seminars are available to view through the CEOS YouTube Channel.
Seminar 27 (Víctor Fernández Blanco Prize): Experimental evidence on consumer preferences for music concert ticket bundles (presented by Dylan Thompson)
Seminar 26: Health Insurance Access and the Career Choices of College Graduates with Majors in the Arts: Evidence from the Affordable Care Act’s Dependent Coverage Expansion (presented by Richard Paulsen)
Seminar 25 (ACEI Presidents’ Prize): Can culture (music consumption) stabilize well-being during socio-economic shocks? (presented by Marco Palomeque)
Seminar 24: Baumol’s disease, brows, public funding, and artistic output: Past, present (and possible futures) (presented by Michela Giorcelli, Petra Moser, Fortunato Ortombina and Andrea Erri)
Seminar 23: Professional challenges of being an artist (presented by Hans Abbing, Andrea Baldin and Trine Bille)
Seminar 22: Social values in cultural entrepreneurship: Theory & practice (presented by Alex Yu-Yu Chang, Jason Potts, Juanie Walker, Heet Ghodasara and Mrunmayee Mohan)
Seminar 21: Lockdown and cultural consumption in the UK: Comparing data and methodological approaches (presented by Salvatore Di Novo, Giorgio Fazio, Tal Feder and Dave O’Brien)
Seminar 20: Violence, hate and local cultural participation (presented by Luisa Iachan, Paul Heritage, Daria Denti and Alessandro Crociata)
Seminar 19: Voting and song contests: Economics, law, history and practice (presented by Juan D. Moreno-Ternero and Dean Vuletic)
Seminar 18: International trade of music and cultural relations (presented by Yuki Takara and Guy Morrow)
Seminar 17: Artists’ labour markets and social protection (presented by Frederic De Wispelaere, Marco Rocca and Joanna Woronkowicz)
Seminar 16: Creative industries ecosystems in the Global South: Digitisation, innovation, and value chains (presented by Jen Snowball and Sabine Ichikawa)
Seminar 15: The art of crowdfunding arts and innovation: The cultural economic perspective (presented by Christian Handke and Carolina Dalla Chiesa)
Seminar 14: Four short presentations featuring up-and-coming young researchers. Presentation 1: Is beauty defined by victors? An analysis of colonial sites of the UNESCO WHL, presented by Martina Dattilo. Presentation 2: Digital Art History: What can Auction Sales Data Tell Us About Collectors’ Preferences with Contemporary Art?, presented by Mike Bowman. Presentation 3: Intermediary Liability and Trade in Follow-on Innovation, presented by Matthias Sahli. Presentation 4: Incentivising ‘pirates’ to pay – An experiment with comic book readers, presented by Satia Rożynek
Seminar 13: Some economics of movie exhibition: increasing returns and Imax revenue premium (presented by Pascal Courty)
Seminar 12: Student loan debt and the career choices of college graduates with majors in the arts (presented by Richard Paulsen)
Seminar 11: Women artists: Gender, ethnicity, origin and contemporary prices (presented by Stephen Sheppard)
Seminar 10: Cultural festivals in an era of the COVID19: New Research Agendas and Data Sources (Panel chair: Jen Snowball, with Panellists: Ian Woodward, Roberta Comunian and Delon Tarentaal)
Seminar 9: Street performers and payments in the online world (presented by Meg Elkins and Tim Fry, with discussants Karol Jan Borowiecki and Paul Watt)
Seminar 8: Do museums foster innovation through engagement with the cultural and creative industries? (presented by Chiara Dalle Nogare and Monika Murzyn)
Seminar 7: Music, networks and technology in urban outskirts: Technological impacts on rap production at south of São Paulo (presented by Rodrigo Cavalcante Michel)
Seminar 6: Estimating losses in cultural assets and cultural activities following the Fundão Dam rupture in Mariana, Minas Gerais, Brazil (presented by Nina Faria)
Seminar 5: On the road again: Live music in the digital age (presented by Christian Peukert)
Seminar 4: Ex-post econometric verification of the economic effects of the Venice carnival (presented by Andrej Srakar)
Seminar 3: Labour market and gender: Evidence from German visual artists (presented by Maria Marchenko and Hendrik Sonnabend)
Seminar: How did the art auction market react to Australian ‘Black art scandals’? (presented by Tim Fry)
Seminar 1: International perspectives on the impact of COVID-19 (presented by David Throsby, Jen Snowball and Enrico Bertacchini)