Template-Type: ReDIF-Paper 1.0
Author-Name: Allan, Corey
Author-X-Name-First: Corey	
Author-X-Name-Last: Allan
Author-Email: corey.allan@motu.org.nz
Author-Workplace-Name: Motu Economic and Public Policy Research
Author-Name: Grimes, Arthur
Author-X-Name-First: Arthur	
Author-X-Name-Last: Grimes
Author-Email: arthur.grimes@motu.org.nz
Author-Workplace-Name: Motu Economic and Public Policy Research
Author-Name: Kerr, Suzi
Author-X-Name-First: Suzi	
Author-X-Name-Last: Kerr
Author-Email: suzi.kerr@motu.org.nz
Author-Workplace-Name: Motu Economic and Public Policy Research
Title: Value and Culture
Abstract:  This paper seeks to clarify the understanding of value in the cultural context, using economics concepts. We develop an economic framework for thinking about value in the cultural context and discuss how well various valuation techniques are able to account for such values. We also discuss why actual outcomes for the production of cultural and heritage services may differ from what would be considered ‘optimal’ in the economic context. The aim is to outline a framework which can assist policy makers in the cultural sector to intervene more cost-effectively and be more conscious of trade-offs amongst different cultural values.
Length: 51 pages
Creation-Date:  2013-09
File-URL: https://motu-www.motu.org.nz/wpapers/13_09.pdf
Number: 13_09
Classification-JEL: A11; A13; Z10; Z18
Keywords: value; culture; cultural policy; non-market valuation
Handle: RePEc:mtu:wpaper:13_09