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Application of the travel cost method to estimate the economic value of cultural goods: Blockbuster art exhibitions

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Author Info

  • Eva Vicente

    (University of Valladolid)

  • Pablo de Frutos

    (University of Valladolid)

Abstract

In recent years a growing number of studies have started to apply non-market valuation methods to estimate the economic value of cultural goods. The majority of these studies use stated preference techniques, such as the contingent valuation method. This study discusses the application of the travel cost method to estimate the economic value of a specific type of cultural good: special exhibitions. The empirical work focuses on the touring exhibition the ‘Ages of Mankind’, one of the first and most representative examples of a blockbuster art exhibition in Spain. This is the first time, as far as we know, that this method has been applied to a large temporary exhibition and is one of the few applications of this method in the valuation of cultural goods.

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File URL: http://www.ief.es/documentos/recursos/publicaciones/revistas/hac_pub/196_2.pdf
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Bibliographic Info

Article provided by IEF in its journal Hacienda Pública Española/Revista de Economía Pública.

Volume (Year): 196 (2011)
Issue (Month): 1 (january)
Pages: 37-63

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Handle: RePEc:hpe:journl:y:2011:v:196:i:1:p:37-63

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Related research

Keywords: Blockbuster arts exhibitions; non-market valuation; revealed preferences; travel cost method; cultural economics.;

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References

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Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. 218 – Valuing environmental intangibles, part 1: The options
    by David Pannell in Pannell Discussions on 2012-06-26 12:07:12

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