Some Simple Analytics of Access and Revenue Targets
AbstractIf a museum faces a price inelastic demand and twin targets of a minimum number of visits and a minimum revenue, those targets need not be compatible. This paper explores the implications of such targets and shows that their compatibility depends critically on the admission price-elasticity. If the targets are incompatible it may be possible to engineer compatibility by shifting the demand curve. However, if the demand shift (eg resulting from advertising or improving the quality of the visitor experience) requires resourcing and is to be self-financing, it may or may not be possible to bring about compatibility. Copyright Kluwer Academic Publishers 1998
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Bibliographic InfoArticle provided by Springer in its journal Journal of Cultural Economics.
Volume (Year): 22 (1998)
Issue (Month): 2 (June)
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Web page: http://www.springerlink.com/link.asp?id=100284
access; revenue; targets; price elasticity;
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- Faye Steiner, 1997. "Optimal Pricing of Museum Admission," Journal of Cultural Economics, Springer, vol. 21(4), pages 307-333, December.
- Mazzanti, Massimiliano, 2002. "Cultural heritage as multi-dimensional, multi-value and multi-attribute economic good: toward a new framework for economic analysis and valuation," The Journal of Socio-Economics, Elsevier, vol. 31(5), pages 529-558.
- Juan Prieto-Rodriguez & Victor Fernandez-Blanco, 2003.
"Optimal Pricing And Grant Policies For Museums,"
- Bruno S. Frey & Stephan Meier, .
"The Economics of Museums,"
IEW - Working Papers
149, Institute for Empirical Research in Economics - University of Zurich.
- Mazzanti, Massimiliano, 2003. "Valuing cultural heritage in a multi-attribute framework microeconomic perspectives and policy implications," The Journal of Socio-Economics, Elsevier, vol. 32(5), pages 549-569, November.
- Giovanni Andrés Hernández Salazar & Ana María Olaya Pardo, 2010. "Impacto de la Política Pública Sobre la Demanda Cultural: el Caso de Cuatro Museos en Colombia," ENSAYOS SOBRE POLÍTICA ECONÓMICA, BANCO DE LA REPÚBLICA - ESPE.
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