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Value and Culture

Author

Listed:
  • Allan, Corey

    () (Motu Economic and Public Policy Research)

  • Grimes, Arthur

    () (Motu Economic and Public Policy Research)

  • Kerr, Suzi

    () (Motu Economic and Public Policy Research)

Abstract

This paper seeks to clarify the understanding of value in the cultural context, using economics concepts. We develop an economic framework for thinking about value in the cultural context and discuss how well various valuation techniques are able to account for such values. We also discuss why actual outcomes for the production of cultural and heritage services may differ from what would be considered ‘optimal’ in the economic context. The aim is to outline a framework which can assist policy makers in the cultural sector to intervene more cost-effectively and be more conscious of trade-offs amongst different cultural values.

Suggested Citation

  • Allan, Corey & Grimes, Arthur & Kerr, Suzi, 2013. "Value and Culture," Working Papers 13_09, Motu Economic and Public Policy Research.
  • Handle: RePEc:mtu:wpaper:13_09
    as

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    File URL: http://motu-www.motu.org.nz/wpapers/13_09.pdf
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    References listed on IDEAS

    as
    1. Tyler Cowen & Alexander Tabarrok, 2000. "An Economic Theory of Avant-Garde and Popular Art, or High and Low Culture," Southern Economic Journal, Southern Economic Association, vol. 67(2), pages 232-253, July.
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    6. Charlotta Mellander & Richard Florida, 2011. "Creativity, talent, and regional wages in Sweden," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 46(3), pages 637-660, June.
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    Cited by:

    1. Parminter, Terry G & Vujcich, Hayley, 2014. "Community values for guiding water policy in the Wellington region," 2014 Conference, August 28-29, 2014, Nelson, New Zealand 187500, New Zealand Agricultural and Resource Economics Society.
    2. Ganason, Vera, 2016. "Challenges of Public-Private Partnership in the Cultural Sector," MBA Research Papers 6139, Victoria University of Wellington, School of Management.

    More about this item

    Keywords

    value; culture; cultural policy; non-market valuation;

    JEL classification:

    • A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists
    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
    • Z10 - Other Special Topics - - Cultural Economics - - - General
    • Z18 - Other Special Topics - - Cultural Economics - - - Public Policy

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