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Some Simple Analytics of Access and Revenue Targets

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  • Adrian Darnell

Abstract

If a museum faces a price inelastic demand and twin targets of a minimum number of visits and a minimum revenue, those targets need not be compatible. This paper explores the implications of such targets and shows that their compatibility depends critically on the admission price-elasticity. If the targets are incompatible it may be possible to engineer compatibility by shifting the demand curve. However, if the demand shift (eg resulting from advertising or improving the quality of the visitor experience) requires resourcing and is to be self-financing, it may or may not be possible to bring about compatibility. Copyright Kluwer Academic Publishers 1998

Suggested Citation

  • 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.
  • Handle: RePEc:kap:jculte:v:22:y:1998:i:2:p:189-196
    DOI: 10.1023/A:1007558003078
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    References listed on IDEAS

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    1. 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.
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    Cited by:

    1. Juan Prieto-Rodríguez & Víctor Fernández-Blanco, 2006. "Optimal pricing and grant policies for museums," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 30(3), pages 169-181, December.
    2. Giovanni Andrés Hernández Salazar & Ana María Olaya Pardo, 2010. "Impacto de la Política Pública Sobre la Demanda Cultural: el Caso de Cuatro Museos en Colombia," ENSAYOS SOBRE POLÍTICA ECONÓMICA, BANCO DE LA REPÚBLICA - ESPE, vol. 28(62), pages 196-225, June.
    3. Mazzanti, Massimiliano, 2002. "Cultural heritage as multi-dimensional, multi-value and multi-attribute economic good: toward a new framework for economic analysis and valuation," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 31(5), pages 529-558.
    4. 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.
    5. Frey, Bruno S. & Meier, Stephan, 2006. "The Economics of Museums," Handbook of the Economics of Art and Culture, Elsevier.

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    Keywords

    access; revenue; targets; price elasticity;

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