The creative instability hypothesis

Earl, Peter E. and Potts, Jason (2013) The creative instability hypothesis. Journal of Cultural Economics, 37 32: 153-173. doi:10.1007/s10824-012-9174-6

Author Earl, Peter E.
Potts, Jason
Title The creative instability hypothesis
Journal name Journal of Cultural Economics   Check publisher's open access policy
ISSN 0885-2545
Publication date 2013
Year available 2012
Sub-type Article (original research)
DOI 10.1007/s10824-012-9174-6
Volume 37
Issue 32
Start page 153
End page 173
Total pages 21
Place of publication New York, United States
Publisher Springer
Collection year 2013
Language eng
Abstract 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.
Keyword Economics of creativity
Creative industries
Schumpeterian competition
Q-Index Code C1
Q-Index Status Confirmed Code
Institutional Status UQ
Additional Notes Published online 3 August 2012.

Document type: Journal Article
Sub-type: Article (original research)
Collections: Official 2013 Collection
School of Economics Publications
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Citation counts: TR Web of Science Citation Count  Cited 5 times in Thomson Reuters Web of Science Article | Citations
Scopus Citation Count Cited 6 times in Scopus Article | Citations
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Created: Fri, 11 Jan 2013, 11:24:24 EST by Alys Hohnen on behalf of School of Economics