The creative instability hypothesis

Earl, Peter E. & Potts, Jason D. (2013) The creative instability hypothesis. Journal of Cultural Economics, 37(2), pp. 1-21.

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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.

Impact and interest:

8 citations in Scopus
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7 citations in Web of Science®

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ID Code: 54431
Item Type: Journal Article
Refereed: Yes
Keywords: Creative industries, Economics of creativity, Overshooting, Schumpeterian competition
DOI: 10.1007/s10824-012-9174-6
ISSN: 0885-2545
Subjects: Australian and New Zealand Standard Research Classification > ECONOMICS (140000) > APPLIED ECONOMICS (140200) > Applied Economics not elsewhere classified (140299)
Australian and New Zealand Standard Research Classification > STUDIES IN CREATIVE ARTS AND WRITING (190000) > OTHER STUDIES IN CREATIVE ARTS AND WRITING (190999) > Studies in the Creative Arts and Writing not elsewhere classified (199999)
Divisions: Past > Research Centres > ARC Centre of Excellence for Creative Industries and Innovation
Current > QUT Faculties and Divisions > Creative Industries Faculty
Copyright Owner: Springer Science+Business Media New York 2012
Deposited On: 31 Oct 2012 22:46
Last Modified: 12 Jun 2013 15:15

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