*Presents an overview of the history of art markets
*Addresses the value of art and consumer behavior toward acquiring art
*Examines the effect of art on economies of developed and developing countries around the world
Over the last 30 or 40 years a substantial literature has grown up in which the tools of economic theory and analysis have been applied to problems in the arts and culture. Economists who have surveyed the field generally locate the origins of contemporary cultural economics as being in 1966, the year of publication of the first major work in modern times dedicated specifically to the economics of the arts. It was a book by Baumol and Bowen which showed that economic analysis could illuminate the supply of and demand for artistic services, the contribution of the arts sector to the economy, and the role of public policy. Following the appearance of the Baumol and Bowen work, interest in the economics of the arts grew steadily, embracing areas such as demand for the arts, the economic functions of artists, the role of the nonprofit sector, and other areas. Cultural economics also expanded to include the cultural or entertainment industries (the media, movies, the publishing industry, popular music), as well as heritage and museum management, property right questions (in particular copyright) and the role of new communication technologies such as the internet.
The field is therefore located at the crossroads of several disciplines: economics and management, but also art history, art philosophy, sociology and law. The Handbook is placed firmly in economics, but it also builds bridges across these various disciplines and will thus be of interest to researchers in all these different fields, as well as to those who are engaged in cultural policy issues and the role of culture in the development of our societies.
Economists: professional researcheres, advanced graduate students
Handbook of the Economics of Art and Culture, 1st Edition
Part 1: Introduction.
1. Overview of the economics of arts an culture (V. Ginsburgh, David Throsby).Part 2: History.
2. Art and culture in the history of economic thought (C. Goodwin).
3. The history of art markets (N. De Marchi, H. van Miegroet).
4. The evolution of music markets (F.M. Scherer).
Part 3: Value.
5. Defining cultural and artistic goods (R. McCain).
6. Value and the valuation of art in economic and aesthetic theory (M. Hutter, R. Shusterman).
Part 4: Legal Issues.
7. The economic analysis of art law (W. Landes).
8. Copies of artworks. The case of paintings and prints (F. Benhamou, V. Ginsburgh).
9. Copyright, arts and the internet (P. Legros).
10. Censorship versus freedom of expression in the arts speech (T-J. Chiang, R. Posner).
Part 5: Culture and the Economy.
11. On arts economics and the new economy (W. Baumol).
12. Culture and economic performance (M. Casson).
13. Culture and economic development (P. Streeten).
Part 6: Consumption and Production.
14. Empirical studies of demand for the arts (B. Seaman).
15. Nonprofit firms in the performing arts (A. Brooks).
16. Creativity and the behaviour of artists (T. Bryant, D. Throsby).
Part 7: Cultural Industries.
17. Organisation of arts and entertainment industries (R. Caves).
18. The media and advertising: A tale of two-sided markets (S. Anderson, J. Gabszewicz).
19. The movies (A. de Vany).
20. Rockonomics: The economics of popular music (A. Krueger, M. Connolly).
21. The economics of books (M. Canoy, F. van der Ploeg, Jan van Ours).
Part 8: Labor Markets.
22. Artistic labour markets. Contingent work, excess supply and occupational risk management (P-M. Menger).
23. Artists' careers and labor markets (N. Alper, G. Wassall).
24. Human capital and artists' labour markets (R. Towse).
25. Stardom and talent (M. Adler).
Part 9: Auctions and Prices.
26. Art auctions (O. Ashenfelter, K. Graddy).
27. The computation of price indices (V. Ginsburgh, J. Mei, M. Moses).
Part 10: Heritage.
28. Cultural heritage. Economic analysis and public policy (I. Rizzo, D. Throsby).
29. The economics of museums (B. Frey, S. Meier).
Part 11: Location.
30. Culture in urban and regional development (T. Bille, G. Schultze).
31. Cultural districts and their role in developed and developing economies (W. Santagata).
Part 12: Policy.
32. The arts and economic policy (A.Peacock).
33. Culture in international trade (K. Acheson, C. Maule).
34. The making of cultural policy: a European perspective (F. van der Ploeg).
35. Cultural policy: an American view (D. Netzer).
36. Tax incentives in cultural policy (M. Schuster).
37. Philanthropy (S. Katz).