07/06/2021
Creativity, despite its importance, is rarely studied by economists. The column uses the outcome of design competitions to evaluate whether positive ratings and strong competition spur creativity.
Positive feedback with little competition reduces creativity, while the presence of small numbers of highly rated competitors increases it. But as the numbers of strong competitors increases, designers are increasingly likely to give up entirely.
Creativity is the act of turning new and imaginative ideas into reality. Creativity is characterized by the ability to perceive the world in new ways, to find hidden patterns, to make connections between seemingly unrelated phenomena, and to generate solutions.
Creativity involves two processes: thinking, then producing. Beliefs that only special, talented people are creative (and you have to be born that way) diminish our confidence in our creative abilities. The notion that geniuses such as Shakespeare, Picasso, and Mozart were 'giftedâ is a myth.
Researchers examined outstanding performances in the arts, mathematics, and sports, to find out if "the widespread belief that to reach high levels of ability, a person must possess an innate potential called talent.