By Bruno S. Frey
Using the industrial standpoint, this fascinating textual content deals another view to sociological or artwork ancient methods to paintings. the problems mentioned comprise: associations from fairs to "superstar" museums, varied technique of assisting the arts, an research into paintings as an funding, and many of the techniques utilized whilst valuing our cultural properties. this article demanding situations extensively held renowned perspectives and, as soon as all started, is tough to place down.
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Additional resources for Arts & Economics: Analysis & Cultural Policy
1. Improve amenities. The museum can raise substantial revenue by establishing a good cafe and restaurant as well as a museum shop offering a broad range of artistic goods. For example, New York's Museum of Modern Art (MOMA), a first rate institution, covers as much as 30 percent of its total revenue from "publications and similar activities" (Parkhurst 1975, p. 85). 5 percent of total revenue. g. tuition charges, fees for the use of facilities) $ 130 million. 8, pp. 144-147). Clearly, such commercial enterprises are much to the benefit of the visitors, as any museum addict knows.
These constraints are in turn shaped by the institutional conditions existing on both the demand and supply sides of art. In equilibrium, the economic concept of art is defined as a consequence of the preferences and constraints of all the actors involved. Disequilibrium situations, in which supply exceeds demand, or demand exceeds supply, help us to better understand the process by which art is produced and demanded, and therewith how the economist's concept of art evolves. Chapter 3For Art's Sake - Open Up the Vaults* 1.
However, what is argued here is that over the last decades they have moved in that direction. From the visitors' point of view, even very large museums are closely associated with, or defined by, very few (often one or two) paintings - the superstar phenomenon. Museums are not only the proud owners of these masterpieces but at the same time their captives. They are not only forced to exhibit them but this also means that, in comparison, their other paintings lose prominence. There may be a slight spillover of interest to less renowned pieces in the collection.
Arts & Economics: Analysis & Cultural Policy by Bruno S. Frey