CAN SUCCESS IN ART BE PREDICTED AND QUANTIFIED?
Art Market Budapest introduces the celebrated network scientist Albert-László Barabási and the thought-provoking findings of his recent study of success and fate in art

Albert-László Barabási, the internationally celebrated author and network scientist, Director of the Center for Complex Network Research at Northeastern University will personally present conclusions of a recently completed research program he and his team conducted. For the completion of the study entitled “Quantifying Reputation and Success in Art”, information was collected on 497,796 exhibitions in 16,002 galleries, 289,677 exhibitions in 7,568 museums, 127,208 auctions in 1,239 auction houses, spanning 143 countries and 36 years, allowing to reconstruct the artistic career of 496,354 artists to understand the invisible factors that influence individual performance in the art world.

In most areas of human activity, from science to business, we expect performance to uniquely determine access to resources and reward. Yet, in areas where individual performance is difficult to quantify, reputation and invisible networks of influence also play an important role. Such effects are particularly important in art, where quality and value can not be divorced from contextual parameters, such as artist’s reputation or its relationship with art history. To understand the role of these invisible factors, researchers reconstructed the exhibition history of half million artists, mapping out the co-exhibition network that captures the movement of art between institutions.

Albert-László Barabási will be personally presenting the study for the first time in front of an art professional audience at 5.30 pm on October 11, 2018 in Budapest, Hungary, as a highlight of Inside Art, a conference organized by and at the location of Art Market Budapest.
Barabási’s work leads to the discovery of scale-free networks in 1999 and proposed the Barabási-Albert model to explain their widespread emergence in natural, technological and social systems, from cellular telephone to WWW or online communities. His best-selling book “Linked: The New Science of Networks” is available in fifteen languages ​​worldwide.

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Art Market Budapest, Central and Eastern Europe’s leading international art fair established in 2011 and taking place next on October 11-14, 2018 with the participation of over 100 exhibitors from around 30 countries presents a unique artistic composition in a vibrant and exciting region and in one of the most culturally attractive cities in Europe, which gives an emphasized presence to fresh and inspiring galleries and artists including the emerging stars of the future, and places new artistic inspirations in the focus. Exhibitors have been coming from 5 continents and an annual increase in audience of more than 30 thousand international visitors, and clearly show that there is a strong demand for this artistic platform to bring freshness to the European and global art scene. as an accompanying event of Art Market Budapest annually, includes presentations and panel discussions on current trends and events of the global art market with the participation of top international professionals.

Albert-László Barabási is the Robert Gray Dodge Professor of Network Science and Distinguished University Professor at Northeastern University, where he directs the Center for Complex Network Research and holds appointments in the Department of Physics and College of Computer and Information Science as well and is a member of the Center for Cancer Systems Biology at the Dana Farber Cancer Institute. He is also a member of the Department of Medicine at Harvard Medical School and Brigham and Women Hospital in the Channing Division of Network Science. Professor Barabási holds various awards for his scientific work and is the author of ‘Bursts’, ‘Linked’ and other books. His most recent book, The Formula: The Universal Laws of Success, focuses on the networks that create value and success in the art world.

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