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Valuing the Arts: A Contingent Valuation Approach

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Author Info

  • Eric Thompson
  • Mark Berger
  • Glenn Blomquist
  • Steven Allen

Abstract

Government funding of the arts has received considerable attention in the United States in recent years. Efforts to cut funding to the National Endowment for the Arts and declining budgets for state arts agencies have raised questions about how much individuals value the arts. This paper applies the contingent valuation method to assess this value, using surveys of random households and of arts patrons. Our analysis estimated a mean willingness to pay (WTP) among all Kentucky households from $6 to$27, depending on the estimation technique used and on whether the scenario discussed is to increase arts performances by 25 per cent, or to avoid a 25per cent or 50 per cent decrease in the number of performances. Among arts patron households, the mean WTP ranges from $61 to $132.Consumer demand for arts performances in large part follows a predictable pattern. The likelihood of respondents agreeing to make the donation that is requested rises as the size of the donation decreases. The likelihood is higher to avoid a 50 per cent decline in performances than to avoid a 25 percent decline in performances. The mean WTP rises with income, and arts patron households have a much higher WTP than all households. WTP rises with on-site use factors such as frequency of attendance. The WTP also rises for arts patrons households with off-site use such as watching arts events on television or reading about the arts in newspapers and magazines. Copyright Kluwer Academic Publishers 2002

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File URL: http://hdl.handle.net/10.1023/A:1014426202110
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Bibliographic Info

Article provided by Springer in its journal Journal of Cultural Economics.

Volume (Year): 26 (2002)
Issue (Month): 2 (May)
Pages: 87-113

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Handle: RePEc:kap:jculte:v:26:y:2002:i:2:p:87-113

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Web page: http://www.springerlink.com/link.asp?id=100284

Related research

Keywords: contingent valuation; funding for the arts; willingness-to-pay;

References

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  1. John C. Whitehead & Thomas J. Hoban, . "Testing for Temporal Reliability in Contingent Valuation with Time for Changes in Factors Affecting Demand," Working Papers 9613, East Carolina University, Department of Economics.
  2. Karen Blumenschein & Magnus Johannesson & Glenn C. Blomquist & Bengt Liljas & Richard M. O’Conor, 1998. "Experimental Results on Expressed Certainty and Hypothetical Bias in Contingent Valuation," Southern Economic Journal, Southern Economic Association, vol. 65(1), pages 169-177, July.
  3. Ethier, Robert G. & Poe, Gregory L. & Schulze, William D. & Clark, Jeremy, 1997. "A Comparison Of Hypothetical Phone And Mail Contingent Valuation Responses For Green Pricing Electricity Programs," Working Papers 7245, Cornell University, Department of Applied Economics and Management.
  4. O'Conor, Richard M. & Blomquist, Glenn C., 1997. "Measurement of consumer-patient preferences using a hybrid contingent valuation method," Journal of Health Economics, Elsevier, vol. 16(6), pages 667-683, December.
  5. Johannesson, Magnus, et al, 1999. "Calibrating Hypothetical Willingness to Pay Responses," Journal of Risk and Uncertainty, Springer, vol. 18(1), pages 21-32, April.
  6. Blumenschein, Karen & Johannesson, Magnus & Yokoyama, Krista K. & Freeman, Patricia R., 2001. "Hypothetical versus real willingness to pay in the health care sector: results from a field experiment," Journal of Health Economics, Elsevier, vol. 20(3), pages 441-457, May.
  7. Laura O. Taylor & Ronald G. Cummings, 1999. "Unbiased Value Estimates for Environmental Goods: A Cheap Talk Design for the Contingent Valuation Method," American Economic Review, American Economic Association, vol. 89(3), pages 649-665, June.
  8. Robin S. Gregory, 2000. "Valuing Environmental Policy Options: A Case Study Comparison of Multiattribute and Contingent Valuation Survey Methods," Land Economics, University of Wisconsin Press, vol. 76(2), pages 151-173.
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Citations

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Cited by:
  1. Thiess Buettner & Eckhard Janeba, 2013. "City Competition for the Creative Class," CESifo Working Paper Series 4417, CESifo Group Munich.
  2. Marine Le Gall-Ely, 2009. "Définition, mesure et déterminants du consentement à payer du consommateur : synthèse critique et voies de recherche," Post-Print hal-00522826, HAL.
  3. Maria Llop & Josep-Maria Arauzo-Carod, 2012. "Economic impact of a new museum on the local economy: “the Gaudí Centre”," Letters in Spatial and Resource Sciences, Springer, vol. 5(1), pages 17-23, March.
  4. J. Snowball, 2005. "Art for the Masses? Justification for the Public Support of the Arts in Developing Countries – Two Arts Festivals in South Africa," Journal of Cultural Economics, Springer, vol. 29(2), pages 107-125, May.
  5. Giovanni Signorello & Enrico Bertacchini & Walter Santagata, 2010. "Loving Cultural Heritage Private Individual Giving and Prosocial Behavior," Working Papers 2010.11, Fondazione Eni Enrico Mattei.
  6. Alejandro Esteller Moré & Jonathan Jorba Giménez & Albert Solé Ollé, 2009. "Las prioridades sociales de gasto en obra social de las cajas de ahorro: estimación a partir de la aplicación de un “juego presupuestario”," Hacienda Pública Española, IEF, vol. 191(4), pages 43-72, December.
  7. 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.
  8. Buettner, T & Janeba, Eckhard, 2013. "City Competition for the Creative Class," Annual Conference 2013 (Duesseldorf): Competition Policy and Regulation in a Global Economic Order 79838, Verein für Socialpolitik / German Economic Association.
  9. Ana Bedate & Luis Herrero & José Sanz, 2009. "Economic valuation of a contemporary art museum: correction of hypothetical bias using a certainty question," Journal of Cultural Economics, Springer, vol. 33(3), pages 185-199, August.
  10. Bruno S. Frey & Simon Luechinger, . "Measuring Terrorism," IEW - Working Papers 171, Institute for Empirical Research in Economics - University of Zurich.
  11. 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, vol. 27(3), pages 241-257, November.
  12. Jaap Boter & Jan Rouwendal & Michel Wedel, 2005. "Employing Travel Time to Compare the Value of Competing Cultural Organizations," Journal of Cultural Economics, Springer, vol. 29(1), pages 19-33, February.
  13. Douglas Noonan, 2003. "Contingent Valuation and Cultural Resources: A Meta-Analytic Review of the Literature," Journal of Cultural Economics, Springer, vol. 27(3), pages 159-176, November.
  14. Carlos Pestana Barros & Marilena Vecco & Victor Blanco, 2008. "Addiction At the Biennale of Venice," Working Papers Department of Economics 2008/14, ISEG - School of Economics and Management, Department of Economics, University of Lisbon.
  15. Zapata, Samuel D. & Carpio, Carlos E., 2012. "The Theoretical Structure of Producer Willingness to Pay Estimates," 2012 Annual Meeting, August 12-14, 2012, Seattle, Washington 123434, Agricultural and Applied Economics Association.

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