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Cultural, creative or experience economy ? On the relevance of choosing the right definition Michael Hutter Social Science Research Center Berlin Technische Universität Berlin Nov.29, 2010 "Cultural Economics: From Theory to Practice". Experience Economy: +New Sports, Gambling, Gastronomy,

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Cultural, creative or experience economy? On the relevance of choosing the right definitionMichael HutterSocial Science Research Center BerlinTechnische Universität BerlinNov.29, 2010"Cultural Economics: From Theory to Practice"


Experience Economy:

+New Sports, Gambling, Gastronomy,

Tourism services

Creative Economy:

+New Media, Games, Services: Fashion, Design, Architecture, Advertising

Cultural Sector:

Old and new symbolic works, copies and performances


What are experience goods made of
What are experience goods made of?

  • Experience goods are symbolic at core: the interpretation of sounds, words, images and material forms triggers imagination and surprise.

  • Most experience goods are information goods. Physical presence - in performances or journeys - increases the effect, but is not essential.

  • The experience economy grows faster than all other sectors in developed industrial countries.


Experience goods follow their own laws
Experience goods follow their own laws

The Law of unknown creative conditions

The Law of collective effects

The Law of bundling

The Law of asymmetric prices

The Law of unknown preferences


An economy driven by beauty fashion and thrill
An economy driven by beauty, fashion and thrill

The cultural sector was merit-driven.

  • The creative economy is production-driven.

  • The experience economy will be demand-driven.


Is there a role for public policy
Is there a role for public policy?

  • Public policy can provide infrastructure and budgets for creators, producers and users.

  • Public policy can prevent private markets for public goods.

  • Public policy can support the training of consumption skills.

  • Public policy can develop property rules adequate to the experience economy.



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