IDEAS home Printed from
   My bibliography  Save this article

Market Failures in the Area of Art (The Case of Performing Arts)


  • Bilyana Tomova


Market failures in the field of performing arts are determined by their nature and technical features. In this case the term “quasi market failures” has been introduced in order to represent more precisely this atypical situation. Arts possess positive external effects of the nature of common benefits, i.e. pure public goods – common consumption without exclusion. The effects are internalized by subsidizing. The market of performing art is incomplete. There is an information asymmetry between demand and supply. The analyzed market defects complete their characteristics as a weak market subject and are a substantial evidence of state intervention and regulation of the sector.

Suggested Citation

  • Bilyana Tomova, 2004. "Market Failures in the Area of Art (The Case of Performing Arts)," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 2, pages 72-89.
  • Handle: RePEc:bas:econth:y:2004:i:2:p:72-89

    Download full text from publisher

    File URL:
    Download Restriction: Fee access

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    1. Morrison, William G. & Westi, Edwin G., 1986. "Subsidies for the performing arts: Evidence on voter preference," Journal of Behavioral Economics, Elsevier, vol. 15(3), pages 57-72.
    2. Peacock, Alan T, 1969. "Welfare Economics and Public Subsidies to the Arts," The Manchester School of Economic & Social Studies, University of Manchester, vol. 37(4), pages 323-335, December.
    Full references (including those not matched with items on IDEAS)

    More about this item

    JEL classification:

    • Z11 - Other Special Topics - - Cultural Economics - - - Economics of the Arts and Literature
    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
    • H41 - Public Economics - - Publicly Provided Goods - - - Public Goods


    Access and download statistics


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bas:econth:y:2004:i:2:p:72-89. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Diana Dimitrova). General contact details of provider: .

    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 CitEc recognized a reference but did not link an item in RePEc 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 RePEc Author Service 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.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.