What Values Should Count in the Arts? The Tension between Economic Effects and Cultural Value
AbstractThe basic distinction made in this volume compares ?economic value?, expressed in monetary terms, to ?cultural value?, reflecting cultural, aesthetic and artistic significance. This paper makes a different distinction which is rarely made explicit but which is of central importance to the decision process in cultural policy. On the one hand, ?value? is attached to the economic effects of cultural activities: When cultural values are created, economic activity is bolstered. The increase of commercial actitivities induced is measured by the so-called ?impact effect?. On the other hand, the value of culture is reflected in the increased utility going to consumers and non-consumers of a particular cultural activity. This type of value is measured by ?willingness to pay studies?. I argue that these two values dominate cultural policy but they capture totally different aspects and are proferred by different kinds of communities.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. 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.
Bibliographic InfoPaper provided by Center for Research in Economics, Management and the Arts (CREMA) in its series CREMA Working Paper Series with number 2005-24.
Date of creation: Jul 2005
Date of revision:
Other versions of this item:
- Bruno S. Frey, . "What Values Should Count in the Arts? The Tension between Economic Effects and Cultural Value," IEW - Working Papers 253, Institute for Empirical Research in Economics - University of Zurich.
- Z11 - Other Special Topics - - Cultural Economics - - - Economics of the Arts and Literature
- D46 - Microeconomics - - Market Structure and Pricing - - - Value Theory
- D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
This paper has been announced in the following NEP Reports:
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.:
- Throsby, David, 1994. "The Production and Consumption of the Arts: A View of Cultural Economics," Journal of Economic Literature, American Economic Association, vol. 32(1), pages 1-29, March.
- Trine Hansen, 1997. "The Willingness-to-Pay for the Royal Theatre in Copenhagen as a Public Good," Journal of Cultural Economics, Springer, vol. 21(1), pages 1-28, March.
- 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.
- Throsby,David, 2000.
"Economics and Culture,"
Cambridge University Press, number 9780521586399, October.
- Richard Epstein, 2003. "The Regrettable Necessity of Contingent Valuation," Journal of Cultural Economics, Springer, vol. 27(3), pages 259-274, November.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Anna-Lea Werlen).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.