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Printart, economics of
From The New Palgrave Dictionary of Economics, Second Edition, 2008
Edited by
Steven
N.
Durlauf
and
Lawrence
E.
Blume
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Abstract
The application of economic theory and analysis to problems in the performing arts (music, theatre, dance), the visual and literary arts and other art forms has expanded greatly over the last 30 years. A basic issue has been to identify the ways in which artistic goods and services differ from other goods and services in the economy, thereby warranting particular attention. This article considers the economic analysis of demand and supply conditions in the arts, market structures (including factor markets) and a range of public policy issues in the area of cultural policy.
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Keywords
advertising; and cultural goods; art, economics of; Baumol's disease; capital goods; cultural goods as; charitable donations; and tax; contingent valuation; copyright; and ‘fair use’; cultural capital; cultural goods and services; defined; droit de suite ; education; and arts demand; herding; heritage assets; intellectual property; and cultural goods; joint consumption; market structure; monopolistic competition; in live performing arts; moral rights; non-participant benefits; non-pecuniary motives; in the arts; not-for-profit firms; output quality; vs price as determinant of demand; path dependence; product differentiation; superstars; tax deductibilityBack to top
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See Also
How to cite this article
Throsby, David. "art, economics of." The New Palgrave Dictionary of Economics. Second Edition. Eds. Steven N. Durlauf and Lawrence E. Blume. Palgrave Macmillan, 2008. The New Palgrave Dictionary of Economics Online. Palgrave Macmillan. 02 September 2010 <http://www.dictionaryofeconomics.com/article?id=pde2008_E000224> doi:10.1057/9780230226203.0062
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