The Monetary Value of Cultural Goods: A Contingent Valuation Study of the Municipal Supply of Cultural Goods in Lueneburg, Germany
AbstractThis paper aims to determine if the contingent valuation method (CVM) can provide valid results useful in policy-making. This will be investigated by using a CV study that captures the willingness to pay (WTP) for the municipal cultural supply in Lueneburg, Germany. In contrast to previous CV studies that included a wide range of descriptive statistics, the empirical analysis of the current study focuses on multivariate analysis to explore the factors associated with the WTP. The results reflect current hypotheses in cultural economics. Thus, higher education levels and higher income are positively correlated with higher WTP. While the results indicate a highly significant impact of non use values on the WTP for cultural goods across the different regression models, the findings for some variables differ considerably in magnitude across different regression models.
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 University of Lüneburg, Institute of Economics in its series Working Paper Series in Economics with number 63.
Length: 26 pages
Date of creation: Oct 2007
Date of revision:
Contact details of provider:
Web page: http://leuphana.de/institute/ivwl.html
Cultural Goods; Contingent Valuation; Willingness to Pay;
Find related papers by JEL classification:
- H44 - Public Economics - - Publicly Provided Goods - - - Publicly Provided Goods: Mixed Markets
- Z10 - Other Special Topics - - Cultural Economics - - - General
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.:
- Coelli, Tim J. & Lloyd-Smith, J. & Morrison, D. & Thomas, J., 1991.
"Hedonic Pricing For A Cost Benefit Analysis Of A Public Water Supply Scheme,"
Australian Journal of Agricultural Economics,
Australian Agricultural and Resource Economics Society, vol. 35(01), April.
- Tim J. Coelli & J. Lloyd‐Smith & D. Morrison & J. Thomas, 1991. "Hedonic Pricing For A Cost Benefit Analysis Of A Public Water Supply Scheme," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 35(1), pages 1-20, 04.
- Franco Papandrea, 1999. "Willingness to Pay for Domestic Television Programming," Journal of Cultural Economics, Springer, vol. 23(3), pages 147-164, August.
- 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.
- Bruno S. Frey & Simon Luechinger & Alois Stutzer, 2004.
"Valuing Public Goods: The Life Satisfaction Approach,"
CREMA Working Paper Series
2004-11, Center for Research in Economics, Management and the Arts (CREMA).
- Bruno S. Frey & Simon Luechinger & Alois Stutzer, . "Valuing Public Goods: The Life Satisfaction Approach," IEW - Working Papers 184, Institute for Empirical Research in Economics - University of Zurich.
- Bruno S. Frey & Simon Luechinger & Alois Stutzer, 2004. "Valuing Public Goods: The Life Satisfaction Approach," CESifo Working Paper Series 1158, CESifo Group Munich.
- Welsch, Heinz, 2007. "Environmental welfare analysis: A life satisfaction approach," Ecological Economics, Elsevier, vol. 62(3-4), pages 544-551, May.
- Isabel Vanslembrouck & Guido Huylenbroeck & J. Meensel, 2005. "Impact of Agriculture on Rural Tourism: A Hedonic Pricing Approach," Journal of Agricultural Economics, Wiley Blackwell, vol. 56(1), pages 17-30.
- Carson, Richard T. & Hanemann, W. Michael, 2006. "Contingent Valuation," Handbook of Environmental Economics, in: K. G. Mäler & J. R. Vincent (ed.), Handbook of Environmental Economics, edition 1, volume 2, chapter 17, pages 821-936 Elsevier.
- Susana Mourato & Ece Ozdemiroglu & Tannis Hett & Giles Atkinson, 2004. "Pricing Cultural Heritage," World Economics, World Economics, Economic & Financial Publishing, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE, vol. 5(3), pages 95-113, July.
- 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.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Joachim Wagner).
If references are entirely missing, you can add them using this form.