The creative instability hypothesis

Journal of Cultural Economics

Volumn 37, Issue 2, 2013, Pages 153-173

  Earl, Peter E ^a   Potts, Jason ^b,c  

^a UNIVERSITY OF QUEENSLAND   (Australia)

^b RMIT UNIVERSITY   (Australia)

^c QUEENSLAND UNIVERSITY OF TECHNOLOGY   (Australia)

Author keywords

Creative industries; Economics of creativity; Overshooting; Schumpeterian competition

Indexed keywords

EID: 84876720810     PISSN: 08852545     EISSN: 15736997     Source Type: Journal    
DOI: 10.1007/s10824-012-9174-6     Document Type: Article

References (52)

1. Adler, M. (1985). Stardom and talent. American Economic Review, 75(1), 208-212.
2. Arrow, K. J. (1962) Economic welfare and the allocation of resources to invention, In: The rate and direction of inventive activity: Economic and social factors: A conference of the Universities-National Bureau Committee for Economic Growth of the Social Science Research Council (pp. 609-626). Princeton, NJ: Princeton University Press.
3. Becker, G., & Murphy, K. (1988). A theory of rational addiction. Journal of Political Economy, 96(4), 675-700.
4. Brito, P., & Barros, C. (2005). Learning by consuming and the dynamics of the demand and prices of cultural goods. Journal of Cultural Economics, 29, 83-106.
5. Bruford, B. (2009). Bill Bruford: The autobiography. London: Jawbone Press.
6. Chai, A., Earl, P. E., & Potts, J. (2007). Fashion, growth and welfare: An evolutionary approach. In M. Bianchi (Ed.), The evolution of consumption: Theories and practices-Advances in Austrian economics (Vol. 10, pp. 187-207). Oxford: JAI/Elsevier.
7. Christensen, C. (1997). The innovator's dilemma. Cambridge, MA: Harvard University Press.
8. De Vany, A. (2004). Hollywood economics. London: Routledge.
9. Earl, P. E. (1986). Lifestyle economics: Consumer behaviour in a turbulent world. Brighton: Wheatsheaf.
10. Earl, P. E. (2001). Simon's travel theorem and the demand for live music. Journal of Economic Psychology, 22(3), 335-358.
11. Earl, P. E. (2003). The entrepreneur as a constructor of connections. In R. Koppl (Ed.), Austrian economics and entrepreneurial studies-Advances in Austrian Economics (Vol. 6, pp. 117-134). Oxford: JAI/Elsevier.
12. Earl, P. E., Peng, T. C., & Potts, J. (2007). Decision-rule cascades and the dynamics of speculative bubbles. Journal of Economic Psychology, 28(3), 351-364.
13. Earl, P. E., & Potts, J. (2004). The market for preferences. Cambridge Journal of Economics, 28(4), 619-633.
14. Favaro, D., & Frateschi, C. (2007). A discrete choice model of consumption of cultural goods: The case of music. Journal of Cultural Economics, 31(3), 205-234.
15. Galenson, D. (2006). Old masters and young geniuses. Princeton: Princeton University Press.
16. Hayek, F. A. (1952). The sensory order. Chicago, IL: University of Chicago Press.
17. Herrmann-Pillath, C. (2010). The economics of identity and creativity: A cultural science approach. New Brunswick, NJ: Transaction Publishers.
18. Holbrook, M. (1995). An empirical approach to representing patterns of consumer tastes, nostalgia, and hierarchy in the market for cultural products. Empirical Studies of the Arts, 13(1), 55-71.
19. Holbrook, M. (2001). Times Square, disneyphobia, hegemickey: The Ricky principle and the downside of the entertainment economy: It's fun-dumb-mental. Marketing Theory, 1(2), 139-163.
20. Holbrook, M., & Schindler, R. (1994). Age, sex, and attitude toward the past as predictors of consumers' aesthetic tastes for cultural products. Journal of Marketing Research, 31, 412-422.
21. Iyengar, S. S., & Lepper, M. R. (2000). When choice is demotivating: Can one desire too much of a good thing? Journal of Personality and Social Psychology, 9(6), 995-1006.
22. Kahneman, D. (2011). Thinking, fast and slow. New York: Farrar, Strauss and Giroux.
23. Kay, N. (1979). The innovating firm: A behavioural theory of corporate R& D. London: Macmillan.
24. Kelly, G. (1955). The psychology of personal constructs. New York: W. W. Norton.
25. Kets de Vries, M., & Miller, D. (1988). Personality, culture and organization. In P. Albanese (Ed.), Psychological foundation of economic behavior (pp. 81-99). New York: Praeger.
26. Lancaster, K. (1966). Change and innovation in the technology of consumption. American Economic Review, 56(1/2), 14-23.
27. Lanham, R. (2006). The economics of attention. Chicago: University of Chicago Press.
28. Lenton, A. P., & Stewart, A. (2008). Changing her ways: The number of options and mate-standard strength impact mate choice strategy and satisfaction. Judgment and Decision Making, 3(7), 501-511.
29. Magee, G. (2005). Rethinking invention: Cognition and the economics of technological creativity. Journal of Economic Behavior & Organization, 57(1), 29-48.
30. Minsky, H. (1974). The modelling of financial instability: An introduction. Modelling and Simulation, 5(1), 267-272.
31. Minsky, H. (1986). Stabilizing an unstable economy. New York: McGraw-Hill.
32. Norman, A., Ahmed, A., Chou, J., Dalal, A., Fortson, K., Jindal, M., et al. (2004). On the computational complexity of consumer decision rules. Computational Economics, 23(2), 173-192.
33. North, A., & Oishi, A. (2006). Music CD purchase decisions. Journal of Applied Social Psychology, 36(12), 3043-3084.
34. Payne, J. W., Bettman, J. R., & Johnson, E. J. (1993). The adaptive decision maker. Cambridge: Cambridge University Press.
35. Potts, J. (2004). Liberty bubbles. Policy, 20(3), 15-21.
36. Potts, J., & Cunningham, S. (2008). Four models of the creative industries. International Journal of Cultural Policy, 14(3), 233-247.
37. Potts, J., Cunningham, S., Hartley, J., & Ormerod, P. (2008). Social network markets: A new definition of creative industries. Journal of Cultural Economics, 32(3), 167-185.
38. Richardson, G. B. (1960). Information and investment. Oxford: Oxford University Press.
39. Rosen, S. (1981). The economics of superstars. American Economic Review, 71(5), 845-858.
40. Schindler, R., & Holbrook, M. (2003). Nostalgia for early experience as a determinant of consumer preferences. Psychology & Marketing, 20(4), 275-302.
41. Schumpter, J. A. (1943). Capitalism, socialism and democracy. London: Allen & Unwin.
42. Scitovsky, T. (1981). The desire for excitement in modern society. Kyklos, 34(1), 3-13.
43. Sedgwick, J. (2007). A Shacklean approach to the demand for movies. In M. Bianchi (Ed.), The evolution of consumption-Advances in Austrian economics (Vol. 10, pp. 77-91). Oxford: JAI/Elsevier.
44. Shackle, G. L. S. (1949). Expectation in economics. Cambridge: Cambridge University Press.
45. Simon, H. (1957). Models of man. New York: Wiley.
46. Simon, H. (1959). Theories of decision-making in economics and behavioural science. American Economic Review, 49(3), 253-283.
47. Smith, A. ([1795] 1980) The principles which lead and direct philosophical enquiries: Illustrated by the history of astronomy. In W. Wightman (Ed.), Essays on philosophical subjects (pp. 33-109). Oxford: Oxford University Press.
48. Stigler, G., & Becker, G. (1977). De gustibus non est disputandum. American Economic Review, 67(1), 76-90.
49. Thaler, R. (1980). Toward a positive theory of consumer choice. Journal of Economic Behavior & Organization, 1(1), 39-60.
50. Throsby, D. (1994). The production and consumption of the arts: A view of cultural economics. Journal of Economic Literature, 32(1), 1-29.
51. Williamson, O. E. (1964). The economics of discretionary behavior. Englewood Cliffs, NJ: Prentice-Hall.
52. Zizzo, D. (2003). Empirical evidence on interdependent preferences: Nature or nurture? Cambridge Journal of Economics, 27(6), 867-880.