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Evaluating the Economic Effects of Cultural Events

Author

Listed:
  • Olivier Gergaud
  • Victor Ginsburgh

Abstract

The chapter describes the different techniques that may be used to measure the short-term economic fallouts of cultural events and, in particular, of music and opera festivals. It tries to distinguish failsafe methods—which are unfortunately not always easy to use—from more doubtful ones, in particular contingent valuation and interviews—which lead to exaggerated evaluations. Examples are provided in each case. We also suggest a new and inexpensive method to evaluate the relative numbers of visitors (by country of origin), which does not suffer from the overstatements provided by contingent valuation and interviews.

Suggested Citation

  • Olivier Gergaud & Victor Ginsburgh, 2016. "Evaluating the Economic Effects of Cultural Events," Working Papers ECARES ECARES 2016-24, ULB -- Universite Libre de Bruxelles.
  • Handle: RePEc:eca:wpaper:2013/229784
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    References listed on IDEAS

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    More about this item

    Keywords

    funding cultural events; impact studies; Google Trends;

    JEL classification:

    • Z11 - Other Special Topics - - Cultural Economics - - - Economics of the Arts and Literature
    • H43 - Public Economics - - Publicly Provided Goods - - - Project Evaluation; Social Discount Rate

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