The creative instability hypothesis

This paper provides an analysis of why many 'stars' tend to fade away rather than enjoying ongoing branding advantages from their reputations. We propose a theory of market overshooting in creative industries that is based on Schumpeterian competition between producers to maintain the inte...

Full description

Saved in:
Bibliographic Details
Published inJournal of cultural economics Vol. 37; no. 2; pp. 153 - 173
Main Authors Earl, Peter E., Potts, Jason
Format Journal Article
LanguageEnglish
Published Boston Springer 01.05.2013
Springer US
Springer Nature B.V
Subjects
Arts
Brands
Competition
Consumer behavior
Consumer choice
Consumer economics
Consumer goods
Consumer psychology
Consumers
Consumption
Creative industries
Creativity
Cultural Economics
Cultural industries
Customers
Economic Policy
Economics
Economics and Finance
Economics of culture
Hypotheses
Innovations
Investment risk
Investment strategies
Marketing
Material culture
Microeconomics
Music
Original Article
Producers
Product counterfeiting
Rationality
Regional and Cultural Studies
Studies
Australia
D21
Creative industries
D11
Schumpeterian competition
Z11
Overshooting
Economics of creativity
Online AccessGet full text

Cover

More Information
Summary:This paper provides an analysis of why many 'stars' tend to fade away rather than enjoying ongoing branding advantages from their reputations. We propose a theory of market overshooting in creative industries that is based on Schumpeterian competition between producers to maintain the interest of boundedly rational fans. As creative producers compete by offering further artistic novelty, this escalation of product complexity eventually leads to overshooting. We propose this as a theory of endogenous cycles in the creative industries.
Bibliography:ObjectType-Article-2
SourceType-Scholarly Journals-1
ObjectType-Feature-1
content type line 23
ISSN:0885-2545
1573-6997
DOI:10.1007/s10824-012-9174-6