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Economics and the Arts: A Review of Seven Years

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  • C. D. THROSBY

Abstract

Contributions to the literature on the economics of the arts are reviewed covering the period 1975 to date. It is argued that although the work surveyed is uneven in quality and incomplete in its coverage, it has made sufficient impact to establish the economics of the arts as a significant area in the development of economic theory and analysis. The paper assesses the importance and relevance of work carried out in four broad areas of study: the role of government in arts markets; the operations of funding agencies; the production of arts goods and services; and consumer behaviour and demand for private consumption in the arts.

Suggested Citation

  • C. D. Throsby, 1982. "Economics and the Arts: A Review of Seven Years," The Economic Record, The Economic Society of Australia, vol. 58(3), pages 242-252, September.
    • Handle: RePEc:bla:ecorec:v:58:y:1982:i:3:p:242-252
    DOI: 10.1111/j.1475-4932.1982.tb00372.x
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    References listed on IDEAS

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    1. repec:bla:scandj:v:81:y:1979:i:2:p:142-53 is not listed on IDEAS
    2. Peter Bohm, 1979. "Estimating willingness to pay: Why and how?," Framed Field Experiments 00127, The Field Experiments Website.
    3. Glenn Withers, 2013. "Broadcasting," Chapters, in: Ruth Towse & Christian Handke (ed.), Handbook on the Digital Creative Economy, chapter 36, pages 409-415, Edward Elgar Publishing.
    4. Seaman, Bruce A, 1981. "Economic Theory and the Positive Economics of Arts Financing," American Economic Review, American Economic Association, vol. 71(2), pages 335-340, May.
    5. M. Davenport & G. Studdert‐Kennedy, 1972. "The Statistical Analysis of Aesthetic Judgment: An Exploration," Journal of the Royal Statistical Society Series C, Royal Statistical Society, vol. 21(3), pages 324-333, November.
    6. McCain, Roger A, 1981. "Cultivation of Taste, Catastrophe Theory, and the Demand for Works of Art," American Economic Review, American Economic Association, vol. 71(2), pages 332-334, May.
    7. Peacock, Alan T, 1969. "Welfare Economics and Public Subsidies to the Arts," The Manchester School of Economic & Social Studies, University of Manchester, vol. 37(4), pages 323-335, December.
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    Cited by:

    1. Jenkins, Stephen & Austen-Smith, David, 1987. "Interdependent decision-making in non-profit industries: A simultaneous equation analysis of English provincial theatre," International Journal of Industrial Organization, Elsevier, vol. 5(2), pages 149-174.
    2. Shabbar Jaffry & Alexandros Apostolakis, 2011. "Evaluating individual preferences for the British Museum," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 35(1), pages 49-75, February.
    3. David Austen‐Smith, 1984. "Subsidies to the Arts with Multiple Public Donors," The Economic Record, The Economic Society of Australia, vol. 60(4), pages 381-389, December.

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