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Museums

In: Economics of Art and Culture

Author

Listed:
  • Bruno S. Frey

    (University of Basel)

Abstract

Major determinants of museum visits are entry fee, visitors’ income and education, the quality of the collection, the attractiveness of the building, and the levels of amenities and marketing activities. Museums produce social non-use values: options, existence, bequest, prestige, and education, for which they are not compensated in monetary terms. Impact studies tend to focus on purely material effects of museums which is most questionable. The supply of museums is characterized by high fixed costs for buildings, collections, and staff. Blockbuster exhibitions, differentiating entry fees, and enlarging commercial activities can also raise revenue. The behaviour of purely public and private museums differs substantially. In both organizations, the directors are reluctant to sell any part of their holdings, even when under financial stress.

Suggested Citation

  • Bruno S. Frey, 2019. "Museums," SpringerBriefs in Economics, in: Economics of Art and Culture, chapter 0, pages 77-88, Springer.
    • Handle: RePEc:spr:spbchp:978-3-030-15748-7_10
    DOI: 10.1007/978-3-030-15748-7_10
    as

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