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Optimal Pricing of Museum Admission

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  • Faye Steiner

Abstract

This paper examines the impact of free admission on museum revenue and evaluates the desirability, from an income maximizing perspective, of an additional free day. The model capitalizes on diverse audience composition. Regression analysis is used to estimate marginal shop and restaurant revenue for both art patrons and marginal consumers. Empirical estimation shows that an additional free day would not be profitable. A theoretical model which specifies crowding and “museum recognition” effects is provided as an appendix. Copyright Kluwer Academic Publishers 1997

Suggested Citation

  • Faye Steiner, 1997. "Optimal Pricing of Museum Admission," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 21(4), pages 307-333, December.
  • Handle: RePEc:kap:jculte:v:21:y:1997:i:4:p:307-333
    DOI: 10.1023/A:1007432901540
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    Citations

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    Cited by:

    1. Vincent Mak & Rami Zwick & Akshay R. Rao & Jake A. Pattaratanakun, 2014. ""Pay What You Want" as Threshold Public Good Provision," Working Papers 201403, Cambridge Judge Business School, University of Cambridge.
    2. Elina Lampi & Matilda Orth, 2009. "Who Visits the Museums? A Comparison between Stated Preferences and Observed Effects of Entrance Fees," Kyklos, Wiley Blackwell, vol. 62(1), pages 85-102, February.
    3. Mazzanti, Massimiliano, 2003. "Valuing cultural heritage in a multi-attribute framework microeconomic perspectives and policy implications," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 32(5), pages 549-569, November.
    4. Mak, Vincent & Zwick, Rami & Rao, Akshay R. & Pattaratanakun, Jake A., 2015. "“Pay what you want” as threshold public good provision," Organizational Behavior and Human Decision Processes, Elsevier, vol. 127(C), pages 30-43.
    5. Adrian Darnell, 1998. "Some Simple Analytics of Access and Revenue Targets," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 22(2), pages 189-196, June.
    6. García Gracia, Mª Isabel. & Zofío Prieto, José Luis & Herrarte Sánchez, Ainhoa & Moral Carcedo, Julian, 2009. "La aportación económica de la industria de la cultura y el ocio en España/," Estudios de Economía Aplicada, Estudios de Economía Aplicada, vol. 27, pages 63-88, Abril.
    7. Bruno S. Frey & Lasse Steiner, 2010. "Pay as you go: a new proposal for museum pricing," IEW - Working Papers 485, Institute for Empirical Research in Economics - University of Zurich.
    8. Frey, Bruno S. & Meier, Stephan, 2006. "The Economics of Museums," Handbook of the Economics of Art and Culture, Elsevier.
    9. Cellini, Roberto & Cuccia, Tiziana, 2017. "How free admittance affects charged visits to museums: An analysis of the Italian case," MPRA Paper 78067, University Library of Munich, Germany.
    10. Peter Johnson & Barry Thomas, 1998. "The Economics of Museums: A Research Perspective," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 22(2), pages 75-85, June.

    More about this item

    Keywords

    art; museum; admission fee;

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