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Evaluating the Economic Effects of Cultural Events

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  • Olivier Gergaud
  • Victor Ginsburgh

Abstract

The chapter describes the different techniques that may be used to measure the short-term economic fallouts of cultural events and, in particular, of music and opera festivals. It tries to distinguish failsafe methods—which are unfortunately not always easy to use—from more doubtful ones, in particular contingent valuation and interviews—which lead to exaggerated evaluations. Examples are provided in each case. We also suggest a new and inexpensive method to evaluate the relative numbers of visitors (by country of origin), which does not suffer from the overstatements provided by contingent valuation and interviews.

Suggested Citation

  • Olivier Gergaud & Victor Ginsburgh, 2016. "Evaluating the Economic Effects of Cultural Events," Working Papers ECARES ECARES 2016-24, ULB -- Universite Libre de Bruxelles.
    • Handle: RePEc:eca:wpaper:2013/229784
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    Cited by:

    1. Pasquale Lucio Scandizzo & Maria Rita Pierleoni, 2018. "Assessing The Olympic Games: The Economic Impact And Beyond," Journal of Economic Surveys, Wiley Blackwell, vol. 32(3), pages 649-682, July.
    2. Andrej Srakar & Marilena Vecco, 2017. "Ex-ante versus ex-post: comparison of the effects of the European Capital of Culture Maribor 2012 on tourism and employment," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 41(2), pages 197-214, May.
    3. Olivier Gergaud & Victor Ginsburgh, 2019. "Using Google Trends to Evaluate Cultural Events," Working Papers ECARES 2019-24, ULB -- Universite Libre de Bruxelles.

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    More about this item

    Keywords

    funding cultural events; impact studies; Google Trends;
    All these keywords.

    JEL classification:

    • Z11 - Other Special Topics - - Cultural Economics - - - Economics of the Arts and Literature
    • H43 - Public Economics - - Publicly Provided Goods - - - Project Evaluation; Social Discount Rate

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