The Values of cultural goods and cultural capital externalities: state of the art and future research prospects [Recurs electrònic] / Trine Bille
Descripción: 19 p. : digital, fitxer PDF (806,85 Kb)Recursos en línea: En: Journal of cultural economics Vol. 48, n. 3 (2024), p. 347-365Resumen: Cultural economics has largely looked toward environmental economics and used non-market valuation techniques such as contingent valuation to estimate the total economic value of cultural goods. These methods are well suited to the valuation of cultural heritage goods, where the benefits are mostly related to the level of supply and mainly take the form of existence and bequest values. This stands in contrast to cultural institutions such as theatres, libraries, exhibitions, and concerts, where the value is produced, when the goods are consumed. For this type of cultural goods, I suggest that cultural economics rather turn to find inspiration in the economics of education. The value of schooling can be divided into private returns and social returns (human capital externalities). Likewise, the value of cultural consumption can have a private and a public component, where I suggest labeling the public component cultural capital externalities. The idea is that when private consumption of arts and culture is taking place, the individual will accumulate cultural capital. This accumulated cultural capital can impact other people (e.g., through changed behavior, future decisions or interactions) and create externalities, i.e., the cultural capital externalities. The size of the externalities is expected to increase (or decrease) with the level of consumption. Without the consumption by the users, no externalities are produced. While this is one of the most fundamental arguments for cultural policy, it has not yet been extensively studied within cultural economics. (Font: Autor)| Tipo de ítem | Biblioteca actual | Colección | Signatura topográfica | URL | Estado | Fecha de vencimiento | Código de barras | |
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e-Artículo
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Centre d' Informació i Documentació del CERC Repositori digital | General | E240049 | Accés al document | Disponible | E240049 |
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Abstract -- 1. Introduction -- 2. Historical context -- 2.1 Empirical studies: 2.1.1 Studies of economic impact and other types of impact ; 2.1.2 Impact on the participants ; 2.1.3 Non‑market valuation studies ; 2.2 Theoretical developments ; 2.3 Current challenges -- 3. Challenge 1: stated preference methods for measurement of economic value: 3.1 Possible solutions: 3.1.1 The value‑based approach ; 3.1.2 Opening the black box of economic valuation -- 4. Challenge 2: impact on individuals from attending arts and culture and related impacts on society (cultural capital externalities): 4.1 Cultural capital externalities ; 4.2 Measurement ; 4.3 Inspiration from economics of education -- 5. Summing up: different types of cultural goods -- 6. Final remarks on cultural policy -- References
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