A Textbook of Cultural Economics by Ruth Towse

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By Ruth Towse

What determines the cost drop of a pop live performance or an opera? Why does Hollywood dominate the movie undefined? Does unlawful downloading harm the checklist undefined? Does unfastened access to museums convey extra viewers? In A Textbook of Cultural Economics, one of many world's top cultural economists exhibits how we will be able to use the theories and techniques of economics to respond to those and a number of alternative questions about the arts (performing arts, visible arts, and literature), historical past (museums and equipped history) and inventive industries (the tune, publishing, and picture industries, broadcasting). utilizing overseas examples and masking the main up to date study, the e-book doesn't think a previous wisdom of economics. it really is supreme for college students taking a direction at the economics of arts as a part of an arts management, enterprise, administration, or economics measure.

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Does free entry to museums bring in more visitors? Why does the government support the arts? How much are we willing to pay to protect the cultural heritage? What are the reasons for public service broadcasting? These are ten of the many questions that cultural economists have asked and tried to answer. This book asks and answers them through the lens of cultural economics. Cultural economics Cultural economics studies these (and other) questions using economic analysis. As a discipline, economics uses theory – economic principles – to analyse problems and it also uses empirical evidence – the use of statistical data – to try to answer them.

CBA is a widely used and accepted method of government decision-making. CBA is also used in economic impact studies, which measure the costs and benefits of a cultural project to a city or region. CBA is being complemented and to some extent replaced in cultural economics by a recent and fast-growing literature on contingent valuation (CV) analysis, also firmly rooted in welfare economics, which uses surveys of people’s subjective estimates of the value they place on public projects as a basis for decision-making.

Relation of cultural economics to other disciplines Cultural economics does not have a monopoly of the study of economic phenomena in the cultural sector. Cultural sociologists study some of the same topics that cultural economists do. It can fairly be said that they have displayed far more interest in the cultural industries than economists have. Sociologists have also studied artists’ labour markets and participation in the arts, for instance. Because of their different intellectual backgrounds, economists and sociologists may draw different implications from their research; for example, the study of artists’ career development in sociology relates it to the 10 General issues in cultural economics role of professionalism, whereas the economist might relate it to the study of incentive structures.

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