Arts & Economics: Analysis & Cultural Policy by Bruno S. Frey

By Bruno S. Frey

Using the industrial point of view, this interesting textual content bargains another view to sociological or artwork historical techniques to paintings. the problems mentioned comprise: associations from fairs to "superstar" museums, varied technique of assisting the arts, an research into artwork as an funding, and some of the techniques utilized whilst valuing our cultural properties.  this article demanding situations broadly held renowned perspectives and, as soon as began, is tough to place down.

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53 as a result, Getty has now (for an undisclosed price) acquired van Gogh's "Irises", which is far better known to the general public. 4. Architecture. Superstar museums are often located in buildings which themselves constitute a world famous artistic feature. Examples are Frank Lloyd Wright's Guggenheim Museum in New York; the Centre Pompidou in Paris; Mario Botta's San Francisco Museum of Modern Art; Frank Gehry's Guggenheim Museum in Bilbao, and Richard Meier's Getty Center in Los Angeles.

9 million). Obviously, the idea is not to immediately sell all the paintings stored by all museums - which would, of course, depress market prices - but to slowly de-access. g. by buying a painting which fits better into that particular collection. In this context it might be argued that the museum decision makers are art historians who put a value on the paintings which differs from the market price. This is only relevant if the value attributed exceeds the market price (otherwise they would willingly sell).

E. it is a dynamic concept; different institutional conditions affect individuals' constraints and therewith the concept of art. The following two subsections discuss particular aspects of the economic approach - the demand for, and supply of, art. 2 The Demand for Art An individual experiences utility from enjoying (consuming) what he or she considers to be art. The economist is able to measure this demand in the form of the "marginal willingness to pay". For the various art objects and artistic activities, variations in the willingness to pay can be observed, but it would be ridiculous to attach any intrinsic "artistic" value to such measurement.

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