Share with your friends










Submit

Analytics Magazine

Study paints a different picture of ‘tortured artists’ and value of their work

Copyright: Thinkstock

The term “tortured artists” has been used to describe some of history’s greatest painters, from Vincent van Gogh and Henri de Toulouse-Lautrec to Pablo Picasso and Jackson Pollock. They are credited with creating some of the world’s most recognized works of art despite lives that were often characterized by great emotional unrest and personal unhappiness. But does misery really beget valuable works of art? According to a new study in the INFORMS journal Management Science, personal unhappiness, particularly that experienced in times of mourning or bereavement, can actually cause a significant decrease in the value of an artist’s work.

The study, “Death, Bereavement and Creativity,” was conducted by Kathryn Graddy of Brandeis University and Carl Lieberman of Princeton University. The authors studied the prices of more than 10,000 paintings produced by 33 French impressionist artists and more than 2,000 paintings by 15 American artists born between 1900 and 1920, and their relation to the dates of death of the artists’ friends and family members.

By looking at the sale and auction price of these artists’ works from 1972 to 2014, the authors found that any paintings created in the year following the death of a friend or relative saw a decrease in value of about 35 percent compared to the rest of the artist’s catalog. The authors also found that there was no statistically significant difference in terms of whether the death involved a parent, a sibling or a friend, and this decrease in the value of their work typically did not extend beyond that one-year time frame.

In addition to studying the impact of bereavement on the cost of paintings, the authors also reviewed the likelihood of a painting being included in a museum collection. By gathering information on all paintings created by the artists included in the study that are in the collections of the New York Metropolitan Museum of Art, the Art Institute of Chicago, the National Gallery of Art, the J. Paul Getty Museum and the Musée d’Orsay, the authors found that artwork painted in the first year following the death of a spouse, child, sibling or friend were much less likely to be included in a museum collection.

“Our analysis reflects that artists, in the year following the death of a friend or relative, are on average less creative than at other times in their lives,” Graddy says. “Paintings that were created in the year following a death fetch significantly less at auction than those created at other times in an artist’s life, and are significantly less likely to be included in a major museum’s collection.”

The full study is available by clicking here.

 

Related Posts

  • 49
    Leaders in industry and academia from around the world are among those who will be joining the INFORMS Board of Directors in 2018. INFORMS is the leading international association for operations research and analytics professionals (and the publisher of Analytics magazine).
    Tags: informs, university, science, management
  • 49
    INFORMS announced six finalists for the 46th annual Franz Edelman Award for Achievements in Operations Research and Management Science, the world’s most prestigious award for achievement in the practice of analytics and O.R. The 2017 Edelman Award will be presented at the INFORMS Conference on Business Analytics and Operations Research…
    Tags: management, informs, collection, university, science, year
  • 42
    INFORMS member Brenda L. Dietrich, an IBM Fellow, vice president and leader of IBM’s data science group, was recently profiled by Forbes in an article headlined, “Meet 9 Women Leading The Pack In Data Analytics.” Dietrich is also an INFORMS Fellow and a member of the National Academy of Engineering.…
    Tags: informs, science, university, personal, management
  • 39
    The Federal Communications Commission (FCC) won the 2018 Franz Edelman Award for its use of operations research (O.R.) as part of a revolutionary approach to address the rapidly growing need for additional wireless spectrum in the United States and Canada. The prestigious award, which recognizes outstanding achievement in advanced analytics,…
    Tags: informs, auction, year, management, science
  • 39
    Where do great strategies come from? How can opportunities be maximized? How can the most successful strategies be identified? These questions and more are explored in a one-of-a-kind collection of essays by prominent thought leaders in strategy science. This one-of-a-kind collection began with a collaborative workshop hosted by Apple and…
    Tags: science, collection, authors, great, informs, university

Headlines

Using machine learning and optimization to improve refugee integration

Andrew C. Trapp, a professor at the Foisie Business School at Worcester Polytechnic Institute (WPI), received a $320,000 National Science Foundation (NSF) grant to develop a computational tool to help humanitarian aid organizations significantly improve refugees’ chances of successfully resettling and integrating into a new country. Built upon ongoing work with an international team of computer scientists and economists, the tool integrates machine learning and optimization algorithms, along with complex computation of data, to match refugees to communities where they will find appropriate resources, including employment opportunities. Read more →

Gartner releases Healthcare Supply Chain Top 25 rankings

Gartner, Inc. has released its 10th annual Healthcare Supply Chain Top 25 ranking. The rankings recognize organizations across the healthcare value chain that demonstrate leadership in improving human life at sustainable costs. “Healthcare supply chains today face a multitude of challenges: increasing cost pressures and patient expectations, as well as the need to keep up with rapid technology advancement, to name just a few,” says Stephen Meyer, senior director at Gartner. Read more →

Meet CIMON, the first AI-powered astronaut assistant

CIMON, the world’s first artificial intelligence-enabled astronaut assistant, made its debut aboard the International Space Station. The ISS’s newest crew member, developed and built in Germany, was called into action on Nov. 15 with the command, “Wake up, CIMON!,” by German ESA astronaut Alexander Gerst, who has been living and working on the ISS since June 8. Read more →

UPCOMING ANALYTICS EVENTS

INFORMS-SPONSORED EVENTS

INFORMS Computing Society Conference
Jan. 6-8, 2019; Knoxville, Tenn.

INFORMS Conference on Business Analytics & Operations Research
April 14-16, 2019; Austin, Texas

INFORMS International Conference
June 9-12, 2019; Cancun, Mexico

INFORMS Marketing Science Conference
June 20-22; Rome, Italy

INFORMS Applied Probability Conference
July 2-4, 2019; Brisbane, Australia

INFORMS Healthcare Conference
July 27-29, 2019; Boston, Mass.

2019 INFORMS Annual Meeting
Oct. 20-23, 2019; Seattle, Wash.

Winter Simulation Conference
Dec. 8-11, 2019: National Harbor, Md.

OTHER EVENTS

Advancing the Analytics-Driven Organization
Jan. 28–31, 2019, 1 p.m.– 5 p.m. (live online)

CAP® EXAM SCHEDULE

CAP® Exam computer-based testing sites are available in 700 locations worldwide. Take the exam close to home and on your schedule:


 
For more information, go to 
https://www.certifiedanalytics.org.