consumption capital: theoretical model and empirical estimation victoria m. ateca amestoy...
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CONSUMPTION CAPITAL: THEORETICAL MODEL AND EMPIRICAL
ESTIMATION
Victoria M. Ateca Amestoy
Universidad de Málaga & IESA - CSIC
EHU-UPV, June 2005
INTRODUCTION
ON CULTURAL GOODSDEMAND AND VALUATION ISSUES
GENERAL PURPOSE
• Cultural goods demand:
The role of tastes.
• Determinants of demand
Effect on different periods.
• Methodologically:
How can we characterize diverse behavior?
INTRODUCTION
SPECIFIC AIMS
Study the determinants of the production and consumption of
cultural appreciation and of the demand of cultural goods.
– Explain differences on the observed market behavior.
– Present methods to estimate such models.
– Analyze the influence of public intervention on the
consumption of cultural goods.
INTRODUCTION
ASSUMPTIONS
• CULTURAL CAPITAL AND HOUSEHOLD PRODUCTION FUNCTIONS.
– basic need: cultural appreciation
– demanded good: cultural good
• RACIONAL ADDICTION.
– temporal dimension
• SOCIAL DIMENSION OF CULTURAL CONSUMPTION
INTRODUCTION
THEORETICAL APPROACH RATIONAL ADDICTION
“Cultural Capital and Demand”
RATIONAL ADDICTION AND TASTE FORMATION
THEORETICAL APPROACH
Literature
– Rational addiction: Stigler y Becker, JPE 1977
– Learning-by-consuming: Lévy-Garboua y Montmarquette, JCE
1996 y HCE 2001.
Our approach
– Cultural appreciation: argument of utility function
– Cultural goods: objects of choice
– The relevance of cultural capital to satisfy cultural need
– Individual cultural capital accumulation function
MODEL AND FOCUS
THEORETICAL APPROACH
Model
What are we looking for?
• Who do the determinants of demand operate in each period.
• The relationship between consumption on two periods.
• The influence of early consumption on subsequent cultural demand
• Effect of different cultural policies.
RESULTS: DETERMINANTS OF DEMAND
THEORETICAL APPROACH
Specific effects of addiction: the role of cultural capital
High level of initial cultural capital endowment: the agent is more productive to satisfy her cultural need by means of the production and consumption of appreciation
RESULTS: EFFECT OF PAST DEMAND ON PRESENT DEMAND
THEORETICAL APPROACH
Model fits an empirical regularity: the consumption on the adult period
depends positively on young consumption.
RESULTS: VITAL PATH FOR CULTURAL CONSUMPTION
THEORETICAL APPROACH
Cultural good on the first period:• consumption good• investment good
SHADOWED: demand for cultural goods is greater on the second period
45º: demand path would be constant if cultural good were not addictive
RESULTS: THE ROLE OF CULTURAL POLICIES
THEORETICAL APPROACH
Effects of an increase on the endowment of cultural capital:
• consumers: individual demand
– falls in the first period
– rises in the second
– effect over vital demand is negative
• if the government increases s providing young consumers with
cultural goods: positive effect for the productive sector.
Transfers: gift – units of cultural goods
positive for supplier
Government: demands cultural good that transfer to the consumer
Above what is individually demanded: merit goods
RESULTS: ON THE ROLE OF CULTURAL POLICIES
THEORETICAL APPROACH
Overlapping Generations. Dynamic effects of changes on
initial endowment:
• Adult consumption = initial capital endowment for her child
Result
• There exists a stationary point that does not depend on cultural
parameters
The effectiveness of cultural policy measures:• Only on the short run• Stationary point that depends on price and income
CONCLUSIONS
THEORETICAL APPROACH
The conclusions derived the theoretical model on cultural need satisfaction and demand of
cultural goods are the following:
• Cultural capital parameters. Efficiency on the production and consumption of cultural
appreciation experiences.
• Demand for adult agent is increasing on the cultural demand of the first period (although
decreasing paths are more common).
• Demand in the first period: double purpose (consumption good and investment good).
• Active cultural policy (if Government demands cultural goods and redistribute them)
beneficial effects for cultural goods suppliers.
• This policy only effective in the short run: dynamic system has a stationary point.
However, it can also influence the level of the point.
“A Model of theater participation”
THEATER PARTICIPATION
What we study
Analysis of the demand of a cultural good:
• Market good
• Intangible, integrated into cultural capital by a process of mere memory.
Why do individuals participate and which are the determinants of the intensity of
demand
Literature on “participation in the arts”
– Demand models
– Cultural capital models
– Others
SETUP & OBJECTIVES OF THE MODEL
THEATER DEMAND
Survey of Public Participation in the Arts 2002 USA
We explain theater attendance in terms of variables
Test econometrically
• Cultural capital• Cultural preferences• Social capital• Participation by other cultural goods• Socio-economics• Socio-demographics
1. Hypothesis derived form the theoretical model: relevance of cultural capital2. Hypothesis related to time (productive factor)3. Regularities reported in the literature
METHODOLOGICAL CONTRIBUTION
THEATER DEMAND
ZERO INFLATED NEGATIVE BINOMIAL MODEL
Sobredispersion and zeros in the dependent variable
distribution:
Implications
How can we interpret excess of zeros for the dependent variable?Behavior of two distincts subpopulations• Those who never go• Those who may go
Constraint maximization. Interpretation:• corner solutions (some agents consume zero units because of some restriction)• other ones reach their unconstrained maximum at zero (do not consider the good to satisfy their need)
ESTIMATION RESULTS
THEATER DEMAND
Never go Go more times
Demographic Age (+)
Sex (+)
Age (+)
Sex (+)
Socio-Economic resource availability
Income (-)
Occupation (-)
Household composition Household size (-)
Family participation Other go (+) Other go (+)
Habitat Central (-) All (+)
Cultural capital initial endowment own past investment
Education (-)
Parents education (-)
Education (+)
Other types of participation relation with other goods
Consumption of other supports (-)
Acting (-)
Go more (-)
Adult classes (-)
Consumption of other supports (+)
Go more (+)
Adult classes (*)
ESTIMATION RESULTS
THEATER DEMAND
The relevance of variables that determine cultural capital
• influence more on the binary decision of participation, that on
the intensity.
• examples: parents education, values of the coefficients of
participation under other goods.
Implications
We can disentangle the effects of different policies:Some policies for increasing participation will just make that hose who already
participated would consume more units;
whereas other policies will change the behavior of non-goers
CONCLUSIONS
THEATER DEMAND
The conclusion that we have obtained for this participation behavior
model have been:
• Jointly estimate the market behavior of two subpopulations.
• Zero Inflated Negative Binomial Model
– probability that an agent never goes, and
– probability of going a given number of times.
• Some variables are deterrence variables for participation.
• Socio-cultural variables accommodating individual cultural capital play a key
role.
• Phenomenon such as feminization and urban characteristics.
• The participation of closest people influences intensity, but not binary
participation.
OVERALL RESULTS
FROM THE THEORETICAL ANALYSIS
•How the determinants of demand operate in each period.
•The effect of public intervention on the initial cultural capital stock.
•A justification for public intervention; demand and transfer.
•The effectiveness of cultural policies on capital.
OVERALL RESULTS
FROM THE EMPIRICAL ANALYSIS
• The relevance of supply-side variables: constraints.
• The relevance of cultural and social capital.
• Suitability of proposed methodology to estimate differentiated behavior.
VARIABLES TEATRO
apéndices
50
tabl a 3.1: var iabl es incl uidas en el anál isis
var iabl es def inición
y número de representaciones teatrales a lo largo del último año
S vector de variables de capital cultural
nivel deeducación formal de la madre
nivel deeducación formal del padre
nivel deeducación formal propia
clases de interpretación (diferenciada por edad decomienzo)
actúa
P vector de preferencias
¶ ir más si no tuviera restricciones
O participación en teatro vía otros bienes culturales
teatro no en vivo / activo (video, DVD)
teatro no en vivo / pasivo (TV, radio)
lectura deteatro
Sc vector de capital social
participación dealgún miembro de la familia
H vector de variables de composición del hogar
número depersonas en el hogar
estado civil
S vector de variables socio-económicas
ingreso del hogar
ocupación
D vector de variables demográ…cas
edad
sexo
raza
E vector de variables del entorno
CMSA: codi…cación del Bureau of the Census
áreas estadísticas metropolitanas consolidadas
tipo de hábitat
RESULTADOS TEATRO
apéndices
71
tabl a 3.3: r esul tados de l a est imacion ZINB
Siempr e cero Model o de recuent o
var iabl e ̂ p-value ̂ ̂ p-value ̂
age ¡ 000150 0128 09985 ¡ 008663 0003 09170
age2 000001 0033 10000 000198 0038 10020
age3 045013 0000 15685 ¡ 000001 0121 10000
hombre 067583¤ 0000 19657 ¡ 014172¤¤ 0041 08679
negro ¡ 099418 0235 03700 028428¤¤ 0044 13288
indio 007422 0632 10770 ¡ 065652¤¤ 0039 05187
islas ¡ 038723 0082 06789 ¡ 005386 0851 09476
ing2 ¡ 056736¤ 0000 05670 003375 0632 10343
ing3 ¡ 078865¤ 0000 04545 017934¤ 0011 11964
ing4 ¡ 040183 0144 06691 031410 0188 13690
ing99 ¡ 006239 0767 09395 026764 0221 13069
tiempo parcial ¡ 052630¤ 0000 05908 006728 0418 10696
desempleado 037137 0163 14497 ¡ 034491¤ 0001 07083
retirado 011367 0230 11204 010779 0211 11138
no_ activo ¡ 057637¤ 0011 05619 008407¤¤ 0039 10877
tamaño hogar ¡ 058172¤ 0023 05589 ¡ 002849 0693 09719
viudo ¡ 027928 0307 07563 ¡ 008681 0507 09168
soltero ¡ 067334¤ 0001 05100 036779¤ 0000 14445
divorciado ¡ 026631 0351 07662 ¡ 006679 0477 09354
familia va 020292¤ 0000 12250 017363¤¤ 0028 11896
central ¡ 011116¤ 0000 08948 0455555¤ 0000 15770
intermedio 004348 0221 10444 011448¤¤ 0055 11213
otro habitat 225565 0127 95415 009282¤¤ 0073 10973
Nota: ̂ :coe…cienteestimado; ̂ : factor decambioen laprobabilidad (odds) paraincremento
unitario de ; ̂ :coe…ciente estimado; ̂ : factor de cambio en el recuento esperado para
incremento unitario de
RESULTADOS TEATRO (CONT)
apéndices
72
tabl a 3.3 (cont.)
Siempr e cero Model o Count s
var iabl e ̂ p-value ̂ ̂ p-value ̂
edu1 ¡ 059669¤ 0000 05506 ¡ 099695¤ 0000 03690
edu3 ¡ 063959¤ 0000 05275 ¡ 003860 0697 09621
edu4 ¡ 092931¤ 0000 03948 025538¤ 0000 12910
edu5 011323 0219 11199 050686¤ 0000 16601
padre_ edu1 ¡ 013340 0719 08751 ¡ 019304 0331 08244
padre_ edu3 ¡ 044618¤ 0010 06401 ¡ 015042 0464 08603
padre_ edu4 ¡ 080822¤ 0000 04457 ¡ 012420 0463 08832
padre_ edu5 091225¤ 0000 24899 ¡ 011028 0687 08956
padre_ edu99 033916¤ 0013 14038 077984¤ 0000 21811
madre_ edu1 ¡ 009049 0341 09135 032326¤ 0024 13816
madre_ edu3 ¡ 032305¤ 0050 07239 00392 0684 10401
madre_ edu4 ¡ 028790 0186 07498 001469 0933 10148
madre_ edu5 ¡ 042490¤ 0000 06538 010195 0621 11073
madre_ edu99 ¡ 051399 0000 05981 ¡ 067554¤ 0000 05089
theatro lectura ¡ 101301¤ 0000 03631 075561¤ 0000 21289
medios pasivos ¡ 142370¤ 0002 02408 023444¤¤ 0056 12642
medios activos ¡ 267922¤ 0000 00686 ¡ 000042 0997 09996
actúa ¡ 115885¤ 0000 03138 022223 0371 12489
ir más ¡ 038540¤ 0059 06802 034236¤ 0001 14083
clase18 ¡ 046542 0259 06279 005960 0631 10614
clase19 ¡ 316351¤ 0000 00423 044146¤ 0000 15550
Tamaño muestral = 16659 lnalpha 009217
Log-verosimilitud ¡ 9032 + 11 alpha 109656
Pseudo-R2 0198 SE(alpha) 011723
Categorías omitidas: mujer, blanco, ing1, tiempo completo, casado, no metropolitano, edu2,
padre-edu2, madre_ edu2, noactúa, no iría más, no tomó clases deteatro, familia no va.
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