Measuring the value of culture : methods and examples in cultural economics / Jeanette D. Snowball.

Format:

Book

Author/Creator:

Snowball, Jeanette D.

Language:

English

Subjects (All):

Arts--Economic aspects.

Arts.

Culture--Economic aspects.

Culture.

Physical Description:

xi, 230 pages : illustrations ; 24 cm

Place of Publication:

Berlin : Springer Verlag, [2008]

Summary:

Acknowledgement of the value of culture and cultural goods is increasing worldwide. So too is interest in finding methods to quantify this value so that governments and private sponsors can make efficient funding decisions. "Measuring the Value of Culture" documents methods that can be used to put a price on the arts and cultural goods, including theatre, heritage, cultural events (like arts festivals), museums, archaeological sites and libraries.

The methods discussed include economic impact studies, which use market data, as well as non-market valuation techniques, like willingness to pay studies, and the newer choice experiments. In addition, advances in more qualitative valuation methods are considered.

The book aims to give practitioners a practical guide to conducting such valuation studies, while also providing potential funders with a means of interpreting the results. The theoretical background of the various methods, their potential problems and the kind of information they can provide is also discussed.

Contents:

1 The Arts, Economics and Valuation 7

1.1 Defining Culture and the Arts 7

1.2 Arguments in Favour of Public Support for the Arts 9

1.2.1 Demand Side Arguments 10

1.2.2 Supply Side Arguments: Baumol's Cost Disease 16

1.2.3 New Theories of Cultural Capital 20

1.3 Valuing Cultural Goods and the Scope of Economics 23

2 Using Economic Impact Studies to Value the Arts 33

2.1 The Benefits of Using Economic Impact Studies 35

2.2 The Dangers of Using Economic Impact Studies 38

3 Calculating Economic Impact 47

3.1 Direct Net Economic Impact 48

3.1.1 Data Collection Methods and Sampling 50

3.1.2 The Area of Study and Local Spectators 54

3.1.3 Determining Visitor Numbers 58

3.1.4 Producers, Sponsors, Vendors and the Media 61

3.1.5 Supply Constraints and Other Costs 63

3.2 Indirect Impact 66

3.3 Total Economic Impact 71

4 The Contingent Valuation Method 77

4.1 Examples of WTP Studies in Cultural Economics 79

4.2 The WTP Method and the Exxon Controversy 85

4.3 Criticisms and Defense of the CV Method 87

4.3.1 Hypothetical Markets and the "Free Rider" Problem 87

4.3.2 The Embedding Effect and "Warm Glow" Hypothesis 98

4.3.3 Disparities Between WTP and WTA 107

4.3.4 The Mixed Good Bias 113

4.3.5 Other Categorical Critiques of the CV Method 117

Appendix 4.1 Examples of WTP Studies in Cultural Economics 121

5 Using Willingness to Pay Studies to Value Cultural Goods 131

5.1 Data Collection and Sampling 131

5.2 Questionnaire Structure in WTP Studies 135

5.3 Opinions and Externalities: Measuring Non-Use Values 136

5.4 Attendance, Spending and Earnings: Measuring Use Values 139

5.5 The WTP Question 141

5.5.1 Provision of Information and Information Bias 142

5.5.2 WTP Question Elicitation Format 148

5.5.3 Detecting Biased Responses: Follow-up Questions and Sureness Measures 153

5.6 Socio-demographics 160

5.7 Validity and Reliability Tests 163

Appendix 5.1 WTP Telephone Survey Questionnaire used in the South African National Arts Festival study 169

6 The Choice Experiment Method and Use 177

6.1 Examples of Choice Experiments in Cultural Economics 178

6.2 The Underlying Theory of Choice Experiments 185

6.3 A Comparison Between Choice Experiments and WTP 187

6.4 Choosing Attributes and Levels 190

6.5 Potential Forms of Bias in Choice Experiments 195

6.5.1 Status Quo and Endowment Effects 196

6.5.2 Complexity and Choice Consistency 197

6.5.3 Independent Valuation and Summation 199

6.6 Interpreting Results 201

6.6.1 Odds Interpretation and Willingness to Pay 201

6.6.2 Including Socio-demographic Variables 204

6.6.3 Welfare Changes and Market Acceptability 208

6.7 Combining Methods 210

Appendix 6.1 Examples of Choice Experiments in Cultural Economics 212

7.1 A Case Study of the South African National Arts Festival 220.

Notes:

Includes bibliographical references and index.

ISBN:

9783540743552

3540743553

OCLC:

172979487