[go: up one dir, main page]
IDEAS home Printed from https://ideas.repec.org/p/zur/iewwpx/253.html
   My bibliography  Save this paper

What Values Should Count in the Arts? The Tension between Economic Effects and Cultural Value

Author

Listed:
  • Bruno S. Frey
Abstract
The basic distinction made in this volume compares "economic value", expressed in monetary terms, to "cultural value", reflecting cultural, aesthetic and artistic significance. This paper makes a different distinction which is rarely made explicit but which is of central importance to the decision process in cultural policy. On the one hand, "value" is attached to the economic effects of cultural activities: When cultural values are created, economic activity is bolstered. The increase of commercial actitivities induced is measured by the so-called "impact effect". On the other hand, the value of culture is reflected in the increased utility going to consumers and non-consumers of a particular cultural activity. This type of value is measured by "willingness to pay studies". I argue that these two values dominate cultural policy but they capture totally different aspects and are proferred by different kinds of communities.

Suggested Citation

  • Bruno S. Frey, "undated". "What Values Should Count in the Arts? The Tension between Economic Effects and Cultural Value," IEW - Working Papers 253, Institute for Empirical Research in Economics - University of Zurich.
    • Handle: RePEc:zur:iewwpx:253
    as

    Download full text from publisher

    File URL: https://www.zora.uzh.ch/id/eprint/52143/1/iewwp253.pdf
    Download Restriction: no
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. Trine Hansen, 1997. "The Willingness-to-Pay for the Royal Theatre in Copenhagen as a Public Good," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 21(1), pages 1-28, March.
    2. Eric Thompson & Mark Berger & Glenn Blomquist & Steven Allen, 2002. "Valuing the Arts: A Contingent Valuation Approach," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 26(2), pages 87-113, May.
    3. Walter Santagata & Giovanni Signorello, 2000. "Contingent Valuation of a Cultural Public Good and Policy Design: The Case of ``Napoli Musei Aperti''," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 24(3), pages 181-204, August.
    4. K.G. Willis, 2002. "Research Note: Iterative Bid Design in Contingent Valuation and the Estimation of the Revenue Maximising Price for a Cultural Good," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 26(4), pages 307-324, November.
    5. Douglas Noonan, 2003. "Contingent Valuation and Cultural Resources: A Meta-Analytic Review of the Literature," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 27(3), pages 159-176, November.
    6. Mueller,Dennis C., 2003. "Public Choice III," Cambridge Books, Cambridge University Press, number 9780521894753, September.
    7. Paul F. Whiteley (ed.), 1998. "Economic Policy," Books, Edward Elgar Publishing, volume 0, number 996.
    8. Richard Epstein, 2003. "The Regrettable Necessity of Contingent Valuation," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 27(3), pages 259-274, November.
    9. David Throsby, 2003. "Determining the Value of Cultural Goods: How Much (or How Little) Does Contingent Valuation Tell Us?," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 27(3), pages 275-285, November.
    10. Peacock, Alan T, 1969. "Welfare Economics and Public Subsidies to the Arts," The Manchester School of Economic & Social Studies, University of Manchester, vol. 37(4), pages 323-335, December.
    11. Throsby, David, 1994. "The Production and Consumption of the Arts: A View of Cultural Economics," Journal of Economic Literature, American Economic Association, vol. 32(1), pages 1-29, March.
    Full references (including those not matched with items on IDEAS)

    Citations

    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. Vrednotenje ekonomskih učinkov kulturnih dogodkov – nova metoda
      by andee in V krizi smisla tiči misel on 2016-12-25 23:16:50

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Kristien Werck & Bruno Heyndels & Benny Geys, 2008. "The impact of ‘central places’ on spatial spending patterns: evidence from Flemish local government cultural expenditures," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 32(1), pages 35-58, March.
    2. Ana Vico Belmonte & Arturo Sánchez-Vasconcellos Méndez, 2022. "Las rentabilidades del arte como motivo para la inversión: preferencias de compra en tiempos de COVID-19," Tiempo y Economía, Universidad de Bogotá Jorge Tadeo Lozano, vol. 9(1), pages 180-203, January.
    3. Andrej Srakar & Marilena Vecco, 2017. "Ex-ante versus ex-post: comparison of the effects of the European Capital of Culture Maribor 2012 on tourism and employment," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 41(2), pages 197-214, May.
    4. Douglas S. Noonan & Ilde Rizzo, 2017. "Economics of cultural tourism: issues and perspectives," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 41(2), pages 95-107, May.
    5. Berg, Nathan, 2014. "Success from satisficing and imitation: Entrepreneurs' location choice and implications of heuristics for local economic development," Journal of Business Research, Elsevier, vol. 67(8), pages 1700-1709.
    6. Jack Newsinger & William Green, 2016. "The infrapolitics of cultural value: cultural policy, evaluation and the marginalisation of practitioner perspectives," Journal of Cultural Economy, Taylor & Francis Journals, vol. 9(4), pages 382-395, August.
    7. Bronwyn Coate & Robert Hoffmann, 2022. "The behavioural economics of culture," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 46(1), pages 3-26, March.
    8. Madison, Michael J & Frischmann, Brett M. & Strandburg, Katherine J., 2017. "Governing Knowledge Commons -- Introduction & Chapter 1," LawArXiv af3ud, Center for Open Science.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Boter, Jaap & Rouwendal, Jan & Wedel, Michel, 2004. "Employing Travel Costs to Compare the Use Value of Competing Cultural Organizations," Serie Research Memoranda 0011, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
    2. Jaap Boter & Jan Rouwendal & Michel Wedel, 2005. "Employing Travel Time to Compare the Value of Competing Cultural Organizations," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 29(1), pages 19-33, February.
    3. Wiśniewska Aleksandra, 2019. "Quality attributes in the non-market stated-preference based valuation of cultural goods," Central European Economic Journal, Sciendo, vol. 6(53), pages 132-150, January.
    4. Aleksandra Wiśniewska, 2019. "‘Quality food’ for cultural policies. Quality attributes in the non-market stated-preference based valuation of cultural goods," Working Papers 2019-03, Faculty of Economic Sciences, University of Warsaw.
    5. Salvador Saz-Salazar & Ana Navarrete-Tudela & José Ramón Alcalá-Mellado & Daniel Carlos Saz-Salazar, 2019. "On the Use of Life Satisfaction Data for Valuing Cultural Goods: A First Attempt and a Comparison with the Contingent Valuation Method," Journal of Happiness Studies, Springer, vol. 20(1), pages 119-140, January.
    6. Aabo, Svanhild, 2005. "Valuing the benefits of public libraries," Information Economics and Policy, Elsevier, vol. 17(2), pages 175-198, March.
    7. Trine Bille, 2024. "The values of cultural goods and cultural capital externalities: state of the art and future research prospects," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 48(3), pages 347-365, September.
    8. Alberini, Anna & Longo, Alberto, 2007. "Valuing the Cultural Monuments of Armenia: Bayesian Updating of Prior Beliefs in Contingent Valuation," Sustainability Indicators and Environmental Valuation Working Papers 9337, Fondazione Eni Enrico Mattei (FEEM).
    9. Anna Alberini & Alberto Longo, 2007. "Valuing the Cultural Monuments of Armenia: Bayesian Updating of Prior Beliefs in Contingent Valuation," Working Papers 2007.36, Fondazione Eni Enrico Mattei.
    10. Christian Handke & Carolina Dalla Chiesa, 2022. "The art of crowdfunding arts and innovation: the cultural economic perspective," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 46(2), pages 249-284, June.
    11. Juan José Price Elton, 2016. "Racionalidad económica de la política cultural," Estudios Públicos, Centro de Estudios Públicos, vol. 0(144), pages 165-197.
    12. Bronwyn Coate & Robert Hoffmann, 2022. "The behavioural economics of culture," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 46(1), pages 3-26, March.
    13. YAMADA Keigo, 2024. "Literature Review of Cultural Heritage Economics - Focus on theoretical research of built heritage - (Japanese)," Discussion Papers (Japanese) 24014, Research Institute of Economy, Trade and Industry (RIETI).
    14. Mark Morrison & Christine M Hill, 2017. "Understanding the Non-Market Value and Equity Implications of the Walsh Bay Arts Precinct Redevelopment," The Economic Record, The Economic Society of Australia, vol. 93(301), pages 302-313, June.
    15. José Sanz & Luis Herrero & Ana Bedate, 2003. "Contingent Valuation and Semiparametric Methods: A Case Study of the National Museum of Sculpture in Valladolid, Spain," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 27(3), pages 241-257, November.
    16. Rushton, Michael, 2019. "Expensive Tastes and Public Funding for the Arts," MPRA Paper 113404, University Library of Munich, Germany.
    17. Armbrecht, John, 2014. "Use value of cultural experiences: A comparison of contingent valuation and travel cost," Tourism Management, Elsevier, vol. 42(C), pages 141-148.
    18. van der Ploeg, Frederick, 2006. "The Making of Cultural Policy: A European Perspective," Handbook of the Economics of Art and Culture, in: V.A. Ginsburgh & D. Throsby (ed.), Handbook of the Economics of Art and Culture, edition 1, volume 1, chapter 34, pages 1183-1221, Elsevier.
    19. Renuka Mahadevan, 2017. "Going beyond the economic impact of a regional folk festival for tourism," Tourism Economics, , vol. 23(4), pages 744-755, June.
    20. Anna Alberini & Alberto Longo & Patrizia Riganti, 2006. "Using Surveys to Compare the Public’s and Decisionmakers’ Preferences for Urban Regeneration: The Venice Arsenale," Working Papers 2006.137, Fondazione Eni Enrico Mattei.

    More about this item

    Keywords

    economic effects; culture; value; arts; contingent valuation; impact studies;
    All these keywords.

    JEL classification:

    • Z11 - Other Special Topics - - Cultural Economics - - - Economics of the Arts and Literature
    • D46 - Microeconomics - - Market Structure, Pricing, and Design - - - Value Theory
    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:zur:iewwpx:253. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Severin Oswald (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.