Economics of Art and Culture

This book studies the relationship between the arts and the economy. By applying economic thinking to arts and culture, it analyses markets for art and cultural goods, highlights specific facets of art auctions and discusses determinants of the economic success of artists. The author also sheds new light on various cultural areas, such as the performing and visual arts, festivals, films, museums and cultural heritage. Lastly, the book discusses cultural policies, the role of the state in financing culture, and the relationship between the arts and happiness.

Bruno S. Frey is a Permanent Visiting Professor at the University of Basel and Research Director at CREMA - Center for Research in Economics, Management and the Arts, Zurich. He was previously a Professor at the Universities of Constance, Zurich, Chicago, Warwick and Friedrichshafen, and he has been awarded five honorary doctorates in five countries. Frey has published 23 books and more than 600 articles in scholarly journals.

What is the Economics of Art and Culture?.- The Social Value of Art.- Art Markets and Auctions.- The Artists' Labour Market.- Reproductions in Art.- Creative Cultural Economy.- The Performing Arts.- Festivals.- Films.- Museums.- Superstar Museums and Special Exhibitions.- Cultural Heritage.- UNESCO World Heritage List.- Cultural Tourism.- Public Support of the Arts.- Does Art Make Us Happy?