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The behavioural economics of culture

Author

Listed:
  • Bronwyn Coate

    (RMIT University)

  • Robert Hoffmann

    (RMIT University)

Abstract

We make the case for further advancing cultural economics through the application of behavioural economics methods and insights. Behavioural economics offers a reconciliation of two distinct strands within cultural economics, one that observes neoclassical economic method, and one that affirms the abundant psychological aspects of cultural economising. We argue that behavioural economics is well positioned for a synthesis as it was designed for the study of psychological ‘anomalies’ within the spirit and methodology of economics. We identify and discuss selected contributions to this emergent but dispersed literature and highlight promising areas that may be further investigated. We also explore the potential for behavioural economics to contribute to cultural policy.

Suggested Citation

  • Bronwyn Coate & Robert Hoffmann, 2022. "The behavioural economics of culture," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 46(1), pages 3-26, March.
    • Handle: RePEc:kap:jculte:v:46:y:2022:i:1:d:10.1007_s10824-021-09419-2
    DOI: 10.1007/s10824-021-09419-2
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    Cited by:

    1. Rushton, Michael, 2022. "The Economic Approach to Public Funding for the Arts," MPRA Paper 113405, University Library of Munich, Germany.
    2. Francesco Angelini & Massimiliano Castellani & Lorenzo Zirulia, 2022. "Overconfidence in the art market: a bargaining pricing model with asymmetric disinformation," Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 39(3), pages 961-988, October.

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    More about this item

    Keywords

    Cultural economics; Behavioural economics; Arts and culture; Behaviour;
    All these keywords.

    JEL classification:

    • B40 - Schools of Economic Thought and Methodology - - Economic Methodology - - - General
    • C90 - Mathematical and Quantitative Methods - - Design of Experiments - - - General
    • D90 - Microeconomics - - Micro-Based Behavioral Economics - - - General
    • Z10 - Other Special Topics - - Cultural Economics - - - General

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