Handbook of the Economics of Art and Culture


  • Victor A. Ginsburgh, Université Libre de Bruxelles, Brussels, Belgium
  • David Throsby, Department of Economics, Macquarie University, Sydney, NSW, Australia

This volume emphasizes the economic aspects of art and culture, a relatively new field that poses inherent problems for economics, with its quantitative concepts and tools. Building bridges across disciplines such as management, art history, art philosophy, sociology, and law, editors Victor Ginsburgh and David Throsby assemble chapters that yield new perspectives on the supply and demand for artistic services, the contribution of the arts sector to the economy, and the roles that public policies play. With its focus on culture rather than the arts, Ginsburgh and Throsby bring new clarity and definition to this rapidly growing area.
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Graduate students and professors worldwide working in all subdisciplines of economics and finance.


Book information

  • Published: September 2013
  • Imprint: NORTH-HOLLAND
  • ISBN: 978-0-444-53776-8


"This handbook is situated at the very cutting edge of modern economics: the place where rational thought and the idea of culture meet, mix and invite to new exciting theories. Add to this a deep concern with culture in the form of art, and you have a book that becomes extra interesting and important - to general readers, social scientists and good libraries." --Richard Swedberg, Cornell University

"This book is an actual encyclopedia of creativity in a disguise of collected papers. It is enjoyable like a product of creative art, valuable as a stimulus of mind and useful mentor in the process of our problem solving. It is worth reading."--Istvan Magyari-Beck, Corvinus University of Budapest and New York State University College at Buffalo, New York

"Victor Ginsburgh and David Throsby have prepared an edited volume that will quickly become the standard resource in the field of cultural economics.  This carefully constructed work provides both the breadth of subjects and detailed analysis necessary for teachers, researchers, practitioners, and students, with topics ranging from creative genius to the pricing of rock concerts."  --Kathryn Graddy, Brandeis University

Table of Contents

1. Introduction and overview   
Victor A. Ginsburgh and David Throsby

PART I. Value and evaluation in art and culture

2. Creative genius in literature, music and the visual arts   
Dean Keith Simonton

3. Contemporary experimental aesthetics: Procedures and findings 
Paul J. Locher

4. The economic and cultural value of paintings: Some empirical evidence  
David Throsby and Anita Zednik

5. Values of music
Jerrold Levinson

6. The economics of cultural awards   
James F. English

7. The use of stated preference methods to value cultural heritage   
Ken G. Willis

PART II. Demand, consumption and investment

8. Bestsellers and blockbusters: Movies, music and books  
W.D. Walls

9. New technologies and cultural consumption  
Jason Potts

10. Investment in visual art: Evidence from international transactions 
Benjamin R. Mandel

PART III. Innovation and technological change

11. Cultural innovation by cultural organizations   
Xavier Castañer

12. Digitization, copyright, and the flow of new music products   
Joel Waldfogel

13. The pricing of art and the art of pricing: Pricing styles in the concert industry   
Pascal Courty and Mario Pagliero

14. Media ownership: Diversity versus efficiency in a changing technological environment
Gillian Doyle

PART IV. Trade, development, and cultural diversity

15. Cultural products in the international trading system   
P. Lelio Iapadre

16. Cultural diversity, copyright and international trade  
Fiona Macmillan

17. Trade and cultural diversity  
Alberto Bisin and Thierry Verdier

18. Cultural diversity, conflict, and economic development  
José G. Montalvo and Marta Reynal-Querol

19. Culture, linguistic diversity, and economics  
Victor Ginsburgh and Shlomo Weber

PART V. Broader cultural issues

20. National culture as value orientations: Consequences of value differences and cultural distance  
Shalom H. Schwartz

21. Religion, culture, and development  
Gani Aldashev and Jean-Philippe Platteau

22. Strategic interactions between modern law and custom  
Jean-Philippe Platteau and Zaki Wahhaj