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An Artistic Production Function: Theory and an Application to Australian Visual Artists

DAVID THROSBY
Journal of Cultural Economics
Vol. 30, No. 1 (March 2006), pp. 1-14
Published by: Springer
Stable URL: http://www.jstor.org/stable/41810904
Page Count: 14
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An Artistic Production Function: Theory and an Application to Australian Visual Artists
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Abstract

This paper proposes a production function for artistic output in which quantity and quality of output are specified as joint products from the inputs of labour and capital provided by individual artists. A model is constructed specifying the quantity of creative and commercial output and the quality of creative output as a function of inputs of labour time and of physical and human capital. Included in the latter is a variable to account for the contribution of creative talent to an artist's human capital. The model is estimated for a sample of practising professional visual artists and craftspeople in Australia. The results suggest that a model along the lines indicated may be taken as a plausible representation of the artistic production process.

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