Samenvatting
Advanced Economics of Arts and Culture Summary
Conclusive summary of the entire course of Advanced Economics of Arts and Culture, International Bachelor of Arts and Culture year 2
[Meer zien]Voorbeeld 2 van de 15 pagina's
Voorbeeld 2 van de 15 pagina's
In winkelwagengesponsord bericht van onze partner
1 beoordeling
Door: nfilimonc • 5 jaar geleden
Voorbeeld van de inhoud
Bieke van Nes - 426520Advanced Economics Summary – Exam November 1st, 2016
Glossary
Cultural value, economic value
Capital (human, social, intellectual, cultural)
Taste formation
Intermediaries
Intrinsic / extrinsic value
Utility
Consumer preference
Income elasticities
Experience goods
Merit goods / public goods
Economic impact studies (EIS)
Contingent valuation method (willingness to pay)
Principal-agent problems
Supplier-induced demand
Crowding-out / crowding-in
Performance indicators
CE studies the arts and culture using economic analysis:
• CE uses economic theory to analyze problems.
• CE uses empirical evidence in analysis.
• CE analyses the production and consumption of cultural goods and services.
• It works along related disciplines (e.g. sociology of culture, arts management,
psychology, cultural anthropology).
• It shares similarities to the study of health and education.
Cultural Economics: study of the arts and culture using economic analysis
Studies the reaction of people/organizations to incentives and disincentives
(coordinated through the institution of marketplace sold to people who are willing to pay
(WTP))
Use of positive analysis, rather than normative analysis
Mezzo approach: analyzing transition between macro and micro approach
Why support the arts and culture (reasons also for governments)?
• Because they are public goods (non rival, non excludable)
• Because they are merit goods, produced/consumed at inefficient levels
• Because they produce externalities, social benefits aren’t known
• Because all should have access (equity to producers/consumers, present/future,
dependence on taste formation/addiction)
• Because of market failure
• Because of collective consumption, non-rival, non-excludable
• Because of Baumol’s cost disease, labour costs unsustainable
• Because of uncertainty, creativity as risky business
• Because they’re often experience goods, dependent on taste formation
• Because of equity, availability (not accessibility)
1
, Bieke van Nes - 426520
How should the arts and culture be supported?
• Public intervention (subsidy direct/indirect, regulations)
• Private
• Public / private collaboration (Who owns art? Owns the object or the access? Who
is responsible for its sustainable care?)
• Evidence-based policy to inform decision making
What should be supported? Who should define what to support?
• Based on sound data collected (What statistics? What classification? What
metric?)
• Defined by the experts
• Informed by evidence-based policy
• Based on efficiency indicators (CBA, cost benefit analysis)
• Based on public opinion (CVM, contingent valuation method)
Public support
Culture and creativity have public good characteristics that improve welfare (sense of
wellbeing or satisfaction with one’s physical and mental state and quality of life)
Individuals gain utility from cultural goods and services. But there can be some
challenges in the market:
• Economic value and cultural value may not harmonize
• Information problems (lack of / asymmetric)
• Access to culture may not be equal to all
• Market failure
Economic value:
• Exchange value
• Utility value / value in the use of a commodity (good)
Cultural value:
• Aesthetic value (beauty, harmony, form)
• Spiritual value (understanding, enlightenment, insight)
• Social value (identity, place)
• Historical value (context, documentation value)
• Symbolic value (meaning)
• Authenticity value (originality)
• Option value (availability)
• Existential value (history, authenticity)
• Heritage value (identity, place)
• Legacy/bequest value (future generations)
• Prestige value (association)
• Creativity value (inspirational)
Why do governments support the arts?
When there is market failure, the government intervenes to correct for efficiency there
is a trade off between efficiency and equity, leaving with second-best policies
2
Voordelen van het kopen van samenvattingen bij Stuvia op een rij:
Verzekerd van kwaliteit door reviews
Stuvia-klanten hebben meer dan 700.000 samenvattingen beoordeeld. Zo weet je zeker dat je de beste documenten koopt!
Snel en makkelijk kopen
Je betaalt supersnel en eenmalig met iDeal, creditcard of Stuvia-tegoed voor de samenvatting. Zonder lidmaatschap.
Focus op de essentie
Samenvattingen worden geschreven voor en door anderen. Daarom zijn de samenvattingen altijd betrouwbaar en actueel. Zo kom je snel tot de kern!
Veelgestelde vragen
Wat krijg ik als ik dit document koop?
Je krijgt een PDF, die direct beschikbaar is na je aankoop. Het gekochte document is altijd, overal en oneindig toegankelijk via je profiel.
Tevredenheidsgarantie: hoe werkt dat?
Onze tevredenheidsgarantie zorgt ervoor dat je altijd een studiedocument vindt dat goed bij je past. Je vult een formulier in en onze klantenservice regelt de rest.
Van wie koop ik deze samenvatting?
Stuvia is een marktplaats, je koop dit document dus niet van ons, maar van verkoper biekevn13. Stuvia faciliteert de betaling aan de verkoper.
Zit ik meteen vast aan een abonnement?
Nee, je koopt alleen deze samenvatting voor €4,99. Je zit daarna nergens aan vast.
Is Stuvia te vertrouwen?
4,6 sterren op Google & Trustpilot (+1000 reviews)
Afgelopen 30 dagen zijn er 79223 samenvattingen verkocht
Opgericht in 2010, al 14 jaar dé plek om samenvattingen te kopen