MORE THAN A GOOD BOOK: CONTINGENT VALUATION OF PUBLIC LIBRARY SERVICES IN ENGLAND

By Daniel Fujiwara, Ricky N. Lawton and Susana Mourato

This is the first economic study to value the wide range of benefits to individuals and the community provided by libraries in England, combining two economic methods for valuing culture: contingent valuation and subjective wellbeing analysis. A primary survey of around 2,000 library users and non-users shows the combined annual value of local library services is £723.4million. Library use is also positively associated with subjective wellbeing, suggesting that libraries have an important role in users’ quality of life.

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EX-ANTE VS. EX-POST: A REASSESSMENT OF ECONOMIC IMPACT STUDIES IN ARTS AND CULTURE

By Andrej Srakar and Marilena Vecco

The estimation of the economic effects of cultural events is a topic that has stirred numerous debates in cultural economics. Although economic impact studies and contingent valuation have been the most frequently used methods, both suffer from numerous problems. In this article, we use ex-post econometric verification as a new and promising method in cultural economics in the estimation of the economic effects of cultural events and apply it to the estimation of the effects of the 2012 European Capital of Culture Maribor on tourism and employment.

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GOING MEANS TROUBLE AND STAYING MAKES IT DOUBLE: THE VALUE OF LICENSING RECORDED MUSIC ONLINE

By Christian Handke, Balász Bodó and Joan-Josep Vallbé

handkes-post

A longstanding and divisive debate rages over copyright enforcement online. This article discusses an alternative approach of a copyright compensation system (CCS) floated mostly by legal scholars. The few economists paying any attention have been skeptical. This article should change that. It provides solid evidence that a CCS for recorded music could more than double rights holder revenues from sales of recorded music while leaving consumers better off at the same time. Continue reading “GOING MEANS TROUBLE AND STAYING MAKES IT DOUBLE: THE VALUE OF LICENSING RECORDED MUSIC ONLINE”

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