Cultural Economics (The Economy Key Ideas)

Cover
Half-title
Series information
Title page
Copyright information
Table of contents
Acknowledgments
1 Introducing cultural economics
	The economic toolbox
	The field of cultural economics
	Big data and cultural insights
	The role of culture in the economy
	A roadmap for creative activities
	Summary
2 Markets, prices and agents
	Types of goods and services
	The market model
	Industrial organization in creative industries
	Markets at work: a pop concert
	Case study: art auctions
	Summary
3 Society and culture: public provision and institutional aspects
	Culture as a public good
	Institutional issues in the public provision of culture
	There is no free lunch
	Protection versus freedom
	Case study: political preferences and cultural spending
	Summary
4 Demand for culture
	Preferences
	Pay as much as you want
	Consume to impress
	Is a painting an investment?
	Case study: Rijksmuseum in Amsterdam
	Summary
5 Artists, superstars and creativity
	Superstar theory
	The winner takes it all
	The tail: one-hit wonders
	Working for a living: artists’ labour markets
	Location matters
	Economics of creativity
	Case study: discrimination in artistic labour markets
	Summary
6 Quality in the arts and culture
	The merits of quantification and rankings
	Markets: the more the better?
	Other consumers’ assessment: how many stars shine on Amazon?
	Expert assessment: the jury is still out
	And the artists themselves?
	It is easier to judge the dead: assessing historic artists’ quality
	Case study: taste is fickle and hindsight is the real deal
	Summary
7 The organization of cultural industries
	Concentration in the creative economy
	The cost of production
	Structure conduct performance
	The art of the deal: principal–agent relationships
	Case study: who needs an agent? Two examples of principal–agent relationships over time
	Summary
8 The internet’s impact on cultural sectors
	Music industry: from goods to services
	Music industry II: live show complementarities
	Broadcasting: the death of television
	The book market: e-reader versus “real” books
	Principal–agent dynamic gone digital in the book market
	Libraries: chambers of culture?
	Case study: where do all the streamers go? Silicon Valley and the streaming industry
	Summary
9 Globalization’s impact on cultural sectors
	Globalization and culture
	Globalization in numbers I: cultural goods in the European Union
	Globalization in numbers II: cultural services across the globe
	Art markets go global
	Cultural exceptions and the dissemination of tastes
	Case study: opera and orchestras around the globe
	Summary
10 Conclusion
References
Index