By Ruth Towse
'A guide of Cultural Economics is the definitive advisor to cultural economics. brief, available articles by means of prime students within the box quick carry the reader up to the mark and element them within the correct course for destiny learn. the recent variation brings the sector to the leading edge and is a must-have for a person drawn to economics and the insights it bargains for figuring out pop culture and the arts.'
--Alex Tabarrok, George Mason collage and The self reliant Institute, US
Acclaim for the 1st edition:
'Ruth Towse is to be congratulated on assembling this sort of prime quality diversity of writers on cultural economics and on orchestrating their contributions so expertly. From anthropology and auctions via copyright and superstars to visible arts and welfare economics, students and common readers alike will become aware of during this Handbook an soaking up compendium of entries overlaying the most topics of a desirable sub-discipline.'
--Martin Ricketts, college of Buckingham, UK
The moment version of this generally acclaimed and commonly stated selection of unique contributions via professional authors displays alterations within the box of cultural economics during the last 8 years. completely revised chapters along new themes and individuals carry the instruction manual modern, taking into consideration new study, literature and the impression of latest applied sciences within the artistic industries.
The ebook covers quite a number subject matters encompassing the artistic industries in addition to the economics of the humanities and tradition, and comprises chapters on: the economics of artwork (including auctions, markets and prices), artists exertions markets, creativity and the inventive financial system, cultural districts, cultural price, globalization and overseas exchange, the web, media economics, museums, non-profit businesses, opera, functionality signs, appearing arts, publishing, legislation, tax bills and welfare economics.
This hugely counseled reference device might be warmly welcomed on a variety of classes within the fields of economics, company, administration, arts administration and cultural and media studies.
Contributors: H. Abbing, okay. Acheson, ok. Alford, O. Ashenfelter, W.J. Baumol, F. Benhamou, M. Blaug, L. Bonet, A.E. Burke, S. Cameron, D.C. Chisholm, F. Colbert, T. Cowen, T. Cuccia, G. Doyle, J. Farchy, V. Fernandez-Blanco, B.S. Frey, V. Ginsburgh, okay. Graddy, C.M. grey, J. Heilbrun, A. Henten, C. Hjorth-Andersen, M. Hutter, W.M. Landes, L. Levy-Garboua, W.A. Luksetich, C. Maule, I. Mazza, C. Montmarquette, D. Netzer, J. O'Hagan, G. Pignataro, J. Prieto-Rodriguez, I. Rizzo, F. Rochelandet, M. Rushton, D. Sagot-Duvauroux, W. Santagata, G.G. Schulze, B.A. Seaman, J.D. Snowball, M. Taalas, R. Tadayoni, D. Throsby, R. Towse, M. Trimarchi, D. Urrutiaguer, O. Velthuis, N.M. Wijnberg, G. Withers
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Extra info for A Handbook of Cultural Economics
Goldstein, Malcolm (2000), Landscape With Figures. A History of Art Dealing in the United States, Oxford: Oxford University Press. Klein, Ulrike (1994), The Business of Art Unveiled. New York Art Dealers Speak up, Frankfurt am Main: Peter Lang. Moulin, Raymonde (1967 ), The French Art Market. A Sociological View, New Brunswick, NJ: Rutgers University Press. Plattner, Stuart (1996), High Art Down Home. An Economic Ethnography of a Local Art Market, Chicago, IL: Chicago University Press. ), Studies in Post-Impressionism, New York: Harry N.
Realizing this, interested parties may refrain from buying works of art altogether. In order to prevent this, dealers award certificates of authenticity or hire the services of art experts who should assure buyers of the quality of the works involved. Other forms of fraud, albeit not related to the quality of the work, may occur if artists sell works out of their studio without paying a commission to a dealer who represents them and who is contractually entitled to a pre-negotiated percentage of each sale; or if a dealer sells a work at full price, tells the artist it went at a discount, and subsequently pockets the difference between the two.
On the secondary or resale market, dealers take works on consignment from collectors or institutions who want to sell them. Once the work is sold, the dealer receives a commission, which may vary from 5 to 25 per cent. Alternatively, the dealer may buy pieces from collectors and institutions, from other dealers or at auction, and subsequently try to sell them at a profit. In all these cases, the dealer’s profit ultimately relies on information asymmetries regarding the value of the work involved in a transaction, the willingness to pay of collectors interested in a specific piece of art or the need of other collectors to sell (parts of) their collection.
A Handbook of Cultural Economics by Ruth Towse