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The economics of cultural goods. P.L. SCANDIZZO. HOW TO DEFINE THE CULTURAL MARKET. HOW TO DEFINE THE MARKET. HOW TO DEFINE THE MARKET. HOW TO DEFINE THE CULTURAL MARKET. There are different perspectives through which it is possible to analyze the distinctive sector of arts and culture
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The economics of cultural goods P.L. SCANDIZZO
HOW TO DEFINE THE CULTURAL MARKET • There are different perspectives through which it is possible to analyze the distinctive sector of arts and culture • The pure economists' perspective (for example, Throsby, 1994; Scandizzo, 2000), according to which culture and art correspond to that form of "consumption of the mind" capable of self-sustaining itself (Schelling, 1991); • The sociologist perspective, which regards cultural and artistic goods as an anthropological product characterizing a specific stage of evolution of a human society (Adorno, 1985);
HOW TO DEFINE THE CULTURAL MARKET • The psychologist perspective, which is interested, for example, with the cognitive aspects or the origins of the conscience (Newman, 1948). • Since Galbraith, however, economists developed a growing interest in arts and culture, both from the point of view of the application of economic theory, and also related to the analysis of the peculiar problems of arts and culture in market economies (Throsby, 2001).
HOW TO DECIDE AMONG PROJECTS: Cost Benefit Analysis (CBA) • The first step of any Cost Benefit Analysis is to define what would happen with and without the project, including any induced effects on private sector activity. • The stage of project analysis consistst in the identification and the measurement of costs and benefits during the project life. • The sum of the benefits minus the sum of the costs is equal to the net benefit or project surplus, but cannot be considered acceptable unless the flows related to different periods over time are modified by multiplying them by particular weights • The project frontier can be defined as the set of project effects that present continuity relations with both internal and external effects.
THE END THANK YOU!! THE CULTURE BE WITH YOU!!
