Advertisement

The Economic Value of Creativity: How Much, for Whom, and What for?

  • M. Bjørn von RimschaEmail author
Chapter
Part of the Media Business and Innovation book series (MEDIA)

Abstract

The following chapter deals with the value od creativity in media management. The first part is a literature-based reflection on different perspectives on the value of creativity. While creativity generally is considered a core value of media products, I will argue that not all aspects of creativity are equally economically valuable and, thus, it is not in the best interest of media managers to maximize creative value. I will then change perspectives and address the question of the value of creativity for the individual media worker. The second part of this chapter combines the perspectives of the predominantly economically oriented media managers with that of the predominantly culturally oriented creators. I will empirically show that salary and financial concerns do not have an impact on the creative output of writers. This suggests that creative value cannot easily be given a monetary value.

Keywords

Work Satisfaction Financial Concern Creative Class Creative Writer Creativity Test 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

References

  1. Amabile, T. M. (1998, September–October). How to kill creativity: Keep doing what you’re doing. Or, if you want to spark innovation, rethink how you motivate, reward, and assign work to people. Harvard Business Review, 77–87.Google Scholar
  2. Amabile, T. M., Conti, R., Coon, H., Lazenby, J., & Herron, M. (1996). Assessing the work environment for creativity. The Academy of Management Journal, 39(5), 1154–1184. doi: 10.2307/256995.CrossRefGoogle Scholar
  3. Andriopoulos, C., & Lowe, A. (2000). Enhancing organisational creativity: The process of perpetual challenging. Management Decision, 38(10), 734–742. doi: 10.1108/00251740010379768.CrossRefGoogle Scholar
  4. Caves, R. E. (2000). Creative industries: Contracts between art and commerce. Cambridge, MA: Harvard University Press.Google Scholar
  5. Coase, R. H. (1974). The market for goods and the market for ideas. The American Economic Review, 64(2), 384–391. doi: 10.2307/1816070.Google Scholar
  6. de Propris, L., & Hypponen, L. (2008). Creative clusters and governance: The dominance of the Hollywood film cluster. In P. N. Cooke & L. Lazzeretti (Eds.), New horizons in regional science. Creative cities, cultural clusters and local economic development (pp. 258–286). Cheltenham: Edward Elgar.Google Scholar
  7. de Vany, A. S., & Walls, W. D. (2007). Estimating the effects of movie piracy on box-office revenue. Review of Industrial Organization, 30(4), 291–301. doi: 10.1007/s11151-007-9141-0.CrossRefGoogle Scholar
  8. Dickie, G. (2001). Art and value. Malden, MA: Blackwell.Google Scholar
  9. Elsbach, K. D., & Hargadon, A. B. (2006). Enhancing creativity through “mindless” work: A framework of workday design. Organization Science, 17(4), 470–483. doi: 10.1287/orsc.1060.0193.CrossRefGoogle Scholar
  10. Fahrenberg, J., Myrtek, M., Schumacher, J., & Brähler, E. (2000). Fragebogen zur Lebenszufriedenheit (FLZ): Handweisung. Göttingen: Hogrefe.Google Scholar
  11. Fee, C. E. (2002). The costs of outside equity control: Evidence from motion picture financing decisions. The Journal of Business, 75(4), 681–711. doi: 10.1086/341639.CrossRefGoogle Scholar
  12. Feist, G. J. (1998). A meta-analysis of personality in scientific and artistic creativity. Personality and Social Psychology Review, 2(4), 290–309. doi: 10.1207/s15327957pspr0204_5.CrossRefGoogle Scholar
  13. Florida, R. (2002). The rise of the creative class: And how it’s transforming work, leisure, community and everyday life. New York: Basic Books.Google Scholar
  14. Frey, B. S., & Osterloh, M. (2002). Motivation: A dual-edged factor of production. In B. S. Frey & M. Osterloh (Eds.), Successful management by motivation. Balancing intrinsic and extrinsic incentives (pp. 3–26). Berlin: Springer.Google Scholar
  15. Gabe, T. M. (2011). The value of creativity. In D. E. Andersson, Å. E. Andersson, & C. Mellander (Eds.), Handbook of creative cities (pp. 128–145). Cheltenham: Edward Elgar.Google Scholar
  16. Ginsburgh, V. A., & Weyers, S. (2006). Comparing artistic values: The example of movies. Empirical Studies of the Arts, 24(2), 163–175. doi: 10.2190/5H68-A65W-AABK-K7LD.CrossRefGoogle Scholar
  17. Greenberg, E. (1992). Creativity, autonomy, and evaluation of creative work: Artistic workers in organizations. The Journal of Creative Behavior, 26(2), 75–80. doi: 10.1002/j.2162-6057.1992.tb01162.x.CrossRefGoogle Scholar
  18. Guilford, J. P. (1950). Creativity. American Psychologist, 5(9), 444–454. doi: 10.1037/h0063487.CrossRefGoogle Scholar
  19. Herzberg, F. (1972). Work and the nature of man. London: Staples Press.Google Scholar
  20. Holland, J. L. (1968). Torrance tests of creative thinking (test review): E. Paul Torrance. Journal of Counseling Psychology, 15(3), 297–298. doi: 10.1037/h0025735.CrossRefGoogle Scholar
  21. Hutter, M., & Schustermann, R. (2006). Value and the valuation of art in economic and aesthetic theory. In V. A. Ginsburgh & C. D. Throsby (Eds.), Handbooks in economics, Handbook of the economics of art and culture (Vol. 25, pp. 169–207). Amsterdam: North-Holland.Google Scholar
  22. Judge, T. A., Thoresen, C. J., Bono, J. E., & Patton, G. K. (2001). The job satisfaction-job performance relationship: A qualitative and quantitative review. Psychological Bulletin, 127(3), 376–407. doi: 10.1037//0033-2909.127.3.376.CrossRefGoogle Scholar
  23. Karmasin, M., Süssenbacher, D., & Gonser, N. (Eds.). (2011). Public Value: Theorie und Praxis im internationalen Vergleich. Wiesbaden: VS Verlag.Google Scholar
  24. Koppetsch, C. (2006). Das Ethos der Kreativen: Eine Studie zum Wandel von Arbeit und Identität am Beispiel der Werbeberufe. Analyse und Forschung. Sozialwissenschaften. Konstanz: UVK.Google Scholar
  25. Kuhn, T. S. (2012). The structure of scientific revolutions. Chicago: The University of Chicago Press (Original work published 1962).Google Scholar
  26. Lins, G. (2002). Strategien der Filmstoffauswahl bei deutschen Film- und Fernsehproduktionen. Baden-Baden: Nomos.Google Scholar
  27. Mani, A., Mullainathan, S., Shafir, E., & Zhao, J. (2013). Poverty impedes cognitive function. Science, 341(6149), 976–980. doi: 10.1126/science.1238041.CrossRefGoogle Scholar
  28. Miller, D., & Shamsie, J. (2001). Learning across the life cycle: Experimentation and performance among the Hollywood studio heads. Strategic Management Journal, 22(8), 725–745.CrossRefGoogle Scholar
  29. Okpara, F. O. (2007). The value of creativity and innovation in entrepreneurship. Journal of Asia Entrepreneurship and Sustainability, 3(2).Google Scholar
  30. Rammstedt, B., & John, O. P. (2005). Kurzversion des Big Five Inventory (BFI-K). Diagnostica, 51(4), 195–206. doi: 10.1026/0012-1924.51.4.195.CrossRefGoogle Scholar
  31. Schoppe, K.-J. (1975). Verbaler Kreativitäts-Test: Ein Verfahren zur Erfassung verbal-produktiver Kreativitätsmerkmale. Göttingen: Horgrefe.Google Scholar
  32. Seidel, S., Müller-Wienbergen, F., & Rosemann, M. (2010). Pockets of creativity in business processes. Communications of the Association for Information Systems, 27(8), 415–436.Google Scholar
  33. Shalley, C. E., Gilson, L. L., & Blum, T. C. (2000). Matching creativity requirements and the work environment: Effects on satisfaction and intentions to leave. Academy of Management Journal, 43(2), 215–223. doi: 10.2307/1556378.CrossRefGoogle Scholar
  34. Stegmann, S., van Dick, R., Ullrich, J., Charalambous, J., Menzel, B., Egold, N., et al. (2010). Der Work Design Questionnaire: Vorstellung und erste Validierung einer deutschen Version. Zeitschrift für Arbeits- und Organisationspsychologie A&O, 54(1), 1–28. doi: 10.1026/0932-4089/a000002.CrossRefGoogle Scholar
  35. Sternberg, R. J., & O’Hara, L. (1999). Creativity and intelligence. In R. J. Sternberg (Ed.), Handbook of creativity (pp. 251–272). Cambridge: Cambridge University Press.Google Scholar
  36. Thorsby, D. (2001). Economics and culture. Cambridge: Cambridge University Press.Google Scholar
  37. Towse, R. (2004). Towards an economics of creativity? In Austrian Society for Cultural Economics and Policy Studies & Arbeitsgemeinschaft für wissenschaftliche Wirtschaftspolitik (Eds.), Creative industries. A measure for urban development? (pp. 4–19). Wien.Google Scholar
  38. Urban, K. K. (2011). Möglichkeiten und Grenzen von Kreativitätsdiagnostik. Karg-Hefte. Beiträge zur Begabtenförderung und Begabungsforschung, 2, 18–27.Google Scholar
  39. van Dyne, L., Jehn, K. A., & Cummings, A. (2002). Differential effects of strain on two forms of work performance: Individual employee sales and creativity. Journal of Organizational Behavior, 23(1), 57–74. doi: 10.1002/job.127.CrossRefGoogle Scholar
  40. Vermazen, B. (1975). Comparing evaluations of works of art. The Journal of Aesthetics and Art Criticism, 34(1), 7–14.CrossRefGoogle Scholar
  41. von Rimscha, M. B. (2010). Risikomanagement in der Entwicklung und Produktion von Spielfilmen: Wie Produzenten vor Drehbeginn Projektrisiken steuern. Wiesbaden: VS Verlag.CrossRefGoogle Scholar
  42. von Rimscha, M. B., & Przybylski, P. (2012). Managing creativity in media companies. In C. Kolo, T. Döbler, & L. Rademacher (Eds.), Wertschöpfung durch Medien im Wandel (pp. 85–102). Baden-Baden: Nomos.CrossRefGoogle Scholar
  43. von Rimscha, M. B., & Schwarb, U. (2012). Situation des Schweizer Buchmarktes: Marktübersicht, Beschaffung, Preisbildung und Bedeutung des Online-Handels. 1. Teilbericht “Aktualisierung der Daten zur Entwicklung der Buchbranche in der Schweiz”. Im Auftrag des Bundesamts für Kultur. Zürich.Google Scholar
  44. von Rimscha, M. B., De Acevedo, M., & Siegert, G. (2010). Securing quality in public service television entertainment. Studies in Communication Sciences, 10(2), 7–25.Google Scholar
  45. Wolfradt, U., & Pretz, J. E. (2001). Individual differences in creativity: Personality, story writing, and hobbies. European Journal of Personality, 15(4), 297–310. doi: 10.1002/per.409.CrossRefGoogle Scholar

Copyright information

© Springer International Publishing AG 2017

Authors and Affiliations

  1. 1.Johannes Gutenberg-University MainzMainzGermany

Personalised recommendations