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Chapter 12 - Dynamics of Cultural and Market Value

from Part III - Understanding Art Through Dynamic Models

Published online by Cambridge University Press:  20 March 2025

Paul van Geert
Affiliation:
Rijksuniversiteit Groningen, The Netherlands
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Summary

Chapter 12 is the first chapter in the third part of the book, “Understanding Art Through Dynamic Models.” I will argue that seemingly simplistic simulation models based on fundamental notions of dynamic systems and complexity can nevertheless function as tools for understanding typical phenomena in the dynamics of art. Chapter 12 presents a model of the dynamics of cultural and market value that can help explain why the contemporary artworlds lead to the emergence of cultural and art market superstars, and why the vast majority of artists face considerable difficulties in making a living from their art.

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Publisher: Cambridge University Press
Print publication year: 2025

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