Optimal Pricing of Museum Admission
AbstractThis paper examines the impact of free admission on museum revenue and evaluates the desirability, from an income maximizing perspective, of an additional free day. The model capitalizes on diverse audience composition. Regression analysis is used to estimate marginal shop and restaurant revenue for both art patrons and marginal consumers. Empirical estimation shows that an additional free day would not be profitable. A theoretical model which specifies crowding and “museum recognition” effects is provided as an appendix. Copyright Kluwer Academic Publishers 1997
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Bibliographic InfoArticle provided by Springer in its journal Journal of Cultural Economics.
Volume (Year): 21 (1997)
Issue (Month): 4 (December)
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Web page: http://www.springerlink.com/link.asp?id=100284
art; museum; admission fee;
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