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The Economics of Museums

  • Frey, Bruno S.
  • Meier, Stephan

Museums fulfill many important functions in the art world and visits to museums are becoming an important leisure and holiday activity. This chapter surveys research about the functioning of museums from an economic point of view. Museum services are shaped by demand and supply factors and by the institutional setting constraining the decision makers in a museum. This chapter argues that the institutional factors, e.g., whether a museum is private or public, influence greatly how the museum is run with respect to the management of the collection, price setting, or the focus on commercial activities. Two current trends, the evolution of superstar museums and the growing importance of special exhibitions, are analysed from an economic point of view.

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This chapter was published in:
  • V.A. Ginsburgh & D. Throsby (ed.), 2006. "Handbook of the Economics of Art and Culture," Handbook of the Economics of Art and Culture, Elsevier, edition 1, volume 1, number 1, December.
  • This item is provided by Elsevier in its series Handbook of the Economics of Art and Culture with number 1-29.
    Handle: RePEc:eee:artchp:1-29
    Contact details of provider: Web page: http://www.elsevier.com/wps/find/bookseriesdescription.cws_home/BS_HE/description

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    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.:

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