This file is part of IDEAS, which uses RePEc data


[ Papers | Articles | Software | Books | Chapters | Authors | Institutions | JEL Classification | NEP reports | Search | New papers by email | Author registration | Rankings | Volunteers | FAQ | Blog | Help! ]

Optimal pricing and grant policies for museums

Author info | Abstract | Publisher info | Download info | Related research | Statistics
Author Info
Juan Prieto-Rodríguez ()
Víctor Fernández-Blanco

Additional information is available for the following registered author(s):

Abstract

The “free access” policy designed by the British Government has encouraged interest in museum financial issues. We define a principal-agent model for museum administration where there are two income sources: public grants and ticket revenues. This model allows us to define the optimal contract determining public grants, ticket prices, budget and managerial effort. We find a theoretical explanation for the inelastic pricing strategy commonly adopted in cultural economics. We further find that museum manager should never have any control over the price of tickets. The model can also be applied to other institutions, such as schools or NGOs, which are able to raise funds directly from private (e.g., ticket revenues or membership fees) or public sources. Copyright Springer Science+Business Media, B.V. 2006

Download Info
To download:

If you experience problems downloading a file, check if you have the proper application to view it first. Information about this may be contained in the File-Format links below. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://hdl.handle.net/10.1007/s10824-006-9012-9
File Format: text/html
File Function:
Download Restriction: Access to full text is restricted to subscribers.

As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

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

Volume (Year): 30 (2006)
Issue (Month): 3 (December)
Pages: 169-181
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:kap:jculte:v:30:y:2006:i:3:p:169-181

Contact details of provider:
Web page: http://www.springerlink.com/link.asp?id=100284

For technical questions regarding this item, or to correct its listing, contact: (Christopher F. Baum).

Related research
Keywords: Grants; Public valuation; Public prices; Museums; Principal-agent model;

Other versions of this item:

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Frey, Bruno S. & Meier, Stephan, 2006. "The Economics of Museums," Handbook of the Economics of Art and Culture, Elsevier. [Downloadable!] (restricted)
    Other versions:
  2. Guesnerie, Roger & Laffont, Jean-Jacques, 1984. "A complete solution to a class of principal-agent problems with an application to the control of a self-managed firm," Journal of Public Economics, Elsevier, vol. 25(3), pages 329-369, December. [Downloadable!] (restricted)
  3. Juan Prieto-Rodríguez & Víctor Fernández-Blanco, 2006. "Optimal pricing and grant policies for museums," Journal of Cultural Economics, Springer, vol. 30(3), pages 169-181, December. [Downloadable!] (restricted)
    Other versions:
  4. Luis Ayala & Rosa Martínez & Jesús Ruiz Huerta, 2003. "Equivalence scales in tax and transfer policies," Investigaciones Economicas, Fundación SEPI, vol. 27(3), pages 593-614, September. [Downloadable!]
  5. Jorge Onrubia & Rafael Salas & José Sanz, 2005. "Redistribution and labour supply," Journal of Economic Inequality, Springer, vol. 3(2), pages 109-124, August. [Downloadable!] (restricted)
  6. Frey, Bruno S, 1994. "Cultural Economics and Museum Behaviour," Scottish Journal of Political Economy, Scottish Economic Society, vol. 41(3), pages 325-35, August.
  7. Stephen Bailey & Peter Falconer, 1998. "Charging for Admission to Museums and Galleries: A Framework for Analysing the Impact on Access," Journal of Cultural Economics, Springer, vol. 22(2), pages 167-177, June. [Downloadable!] (restricted)
  8. Juan Gabriel Rodríguez & Rafael Salas, 2004. "A Bistochastic Nonparametric Estimator," Economic Working Papers at Centro de Estudios Andaluces E2004/22, Centro de Estudios Andaluces. [Downloadable!]
  9. Daniel R. Marburger, 1997. "Optimal ticket pricing for performance goods," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 18(5), pages 375-381.
  10. Irene Perrote & Juan Gabriel Rodríguez & Rafael Salas, 2001. "A non-parametric decomposition of redistribution into vertical and horizontal components," Documentos de trabajo de la Facultad de Ciencias Económicas y Empresariales 01-07, Universidad Complutense de Madrid, Facultad de Ciencias Económicas y Empresariales. [Downloadable!]
  11. Adrian Darnell, 1998. "Some Simple Analytics of Access and Revenue Targets," Journal of Cultural Economics, Springer, vol. 22(2), pages 189-196, June. [Downloadable!] (restricted)
  12. Peter Johnson & Barry Thomas, 1998. "The Economics of Museums: A Research Perspective," Journal of Cultural Economics, Springer, vol. 22(2), pages 75-85, June. [Downloadable!] (restricted)
  13. David Maddison & Terry Foster, 2003. "Valuing congestion costs in the British Museum," Oxford Economic Papers, Oxford University Press, vol. 55(1), pages 173-190, January.
Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Douglas Noonan, 2007. "Fiscal pressures, institutional context, and constituents: a dynamic model of states’ arts agency appropriations," Journal of Cultural Economics, Springer, vol. 31(4), pages 293-310, December. [Downloadable!] (restricted)
  2. Juan Prieto-Rodriguez & Victor Fernandez-Blanco, 2003. "Optimal Pricing And Grant Policies For Museums," Public Economics 0309002, EconWPA. [Downloadable!]
    Other versions:
  3. Bruno S. Frey & Stephan Meier, . "The Economics of Museums," IEW - Working Papers iewwp149, Institute for Empirical Research in Economics - IEW. [Downloadable!]
    Other versions:
  4. João Coelho & Carlos Santos, 2008. "The Budgeting of Portuguese Public Museums: a dynamic panel data analysis," Documentos de Trabalho em Economia (Working Papers in Economics) 03, Faculdade de Economia e Gestão, Universidade Católica Portuguesa (Porto). [Downloadable!]
  5. Santiago Alvarez-Garcia & Juan Prieto-Rodriguez & Rafael Salas, 2003. "The evolution of income inequality in the European Union," Public Economics 0309003, EconWPA. [Downloadable!]
    Other versions:
Statistics
Access and download statistics

Did you know? IDEAS is also providing many rankings, for example of authors and institutions.

This page was last updated on 2009-11-27.

This information is provided to you by IDEAS at the Department of Economics, College of Liberal Arts and Sciences, University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics.