: Bruno S. Frey
: Economics of Art and Culture
: Springer-Verlag
: 9783030157487
: 1
: CHF 57.60
:
: Sonstiges
: English
: 134
: Wasserzeichen/DRM
: PC/MAC/eReader/Tablet
: PDF

This book studies the relationship between the arts and the economy. By applying economic thinking to arts and culture, it analyses markets for art and cultural goods, highlights specific facets of art auctions and discusses determinants of the economic success of artists. The author also sheds new light on various cultural areas, such as the performing and visual arts, festivals, films, museums and cultural heritage. Lastly, the book discusses cultural policies, the role of the state in financing culture, and the relationship between the arts and happiness. 


Bruno S. Frey is a Permanent Visiting Professor at the University of Basel and Research Director at CREMA - Center for Research in Economics, Management and the Arts, Zurich. He was previously a Professor at the Universities of Constance, Zurich, Chicago, Warwick and Friedrichshafen, and he has been awarded five honorary doctorates in five countries. Frey has published 23 books and more than 600 articles in scholarly journals.
Preface6
Contents7
Introduction12
1 What Is the Economics of Art and Culture?13
1.1 A Challenging Discipline13
1.2 The Scientific Approach15
1.3 Fascinating Issues15
1.3.1 Does the Market Produce Bad Art?16
1.3.2 Can Arts Policy Be Left to Democracy?17
1.4 Conclusion19
Related Literature19
Aspects22
2 The Social Value of Art23
2.1 Contrasting Views23
2.1.1 Impact Studies23
2.1.2 Capturing Non-market Benefits of Art24
2.1.3 Different Views25
2.1.4 Evaluation26
2.2 Conclusion27
Related Literature28
3 Art Markets and Auctions29
3.1 Producers and Consumers of Art29
3.2 Equilibrium Between Supply and Demand30
3.3 Auctions30
3.4 Types of Art Market Risks32
3.4.1 Risks Inherent in Works of Art32
3.4.2 Unexpected Market Changes33
3.4.3 Behavioural Anomalies34
3.5 Why Do People Invest in Art?35
3.5.1 Diversification35
3.5.2 Biased Information35
3.5.3 Taxation and Money Laundering35
3.5.4 Conspicuous Consumption and Art Investment36
3.5.5 Love of Art36
3.6 Conclusion36
Related Literature36
4 The Artists’ Labour Market38
4.1 Starving or Rich Artists?38
4.2 Why Do People Become Artists?39
4.3 Who Is an Artist?40
4.4 Income40
4.5 Awards41
4.6 Superstars and Winner-Take-All Markets41
4.7 Creativity42
4.7.1 Personal Creativity42
4.7.2 Institutional Creativity43
4.8 Are Artists Really Unhappy?44
4.9 Conclusion44
Related Literature45
5 Reproductions in Art46
5.1 Contrasting Views on Copies and Fakes46
5.1.1 The Moral View46
5.1.2 The Legal View47
5.1.3 The Art Historic View47
5.2 Beneficial Aspects of Imitations48
5.2.1 Copies Provide Utility48
5.2.2 Artistic Capital Is Promoted48
5.2.3 Supporting Creativity48
5.3 Harmful Aspects of Imitations49
5.3.1 Demand Side49
5.3.2 Supply Side50
5.4 What to Do?50
5.5 Conclusion51
Related Literature51
Areas53
6 Creative Cultural Economy54
6.1 Creativity and Culture54
6.2 Economic Properties55
6.3 Conclusion56
Related Literature56
7 The Performing Arts57
7.1 Characteristics of the Performing Art57
7.2 Demand Side58
7.3 Supply Side58
7.3.1 Operas58
7.3.2 Drama60
7.3.3 Government Supported Organizations61
7.3.4 Profit-Oriented Enterprises62
7.3.5 Co-operative Organizations63
7.3.6 The Cost Disease64
7.4 Conclusion65
Related Literature65
8 Festivals66
8.1 An Abundance of Festivals66
8.2 A Paradox67
8.3 Features67
8.3.1 Demand Side67
8.3.2 Supply Side69
8.3.3 Possible Future Developments71
8.4 Conclusion72
Related Literature72
9 Films74
9.1 Characteristics74
9.1.1 Supply Side76
9.1.2 Demand Side78
9.2 Conclusion79
Related Literature79
10 Museums80
10.1 Types of Museums80
10.2 Demand for Museums81
10.2.1 Private Demand by Visitors81
10.2.2 Social Demand82
10.2.3 Effects on Markets83
10.3 Supply83
10.3.1 Cost Structure83
10.3.2 Firm Structure85
10.4 Museum Behaviour85
10.5 Collection Management88
10.6 Entrance Fees89
10.7 Commercial Activities89
10.8 Conclusion90
Related Literature90
11 Superstar Museums and Special Exhibit