'This book explains in a very clear way the application of economic principles and methods to 'high arts.' The authors provide an up-to-date analysis, rich in data and illustrative and expressive examples, with an accessible style. The book is recommended to students, arts professionals, policy makers, and others interested in the past and future trends of the arts within the economy.' Ilde Rizzo, University Catania
Contents; Part I. The Arts Sector in the Economy: Size, Growth, and Significance: 1. An Overview of the Arts Sector; 2. Growth of the Arts Sector; 3. Audiences for the Arts; Part II. The Microeconomics of Demand and Supply: 4. Consumer Demand: An Introduction; 5. Elasticities of Arts Demand and Their Policy Implications; 6. Production and Cost in the Performing Arts; 7. Firms and Markets in the Performing Arts; 8. Productivity Lag and the Financial Problem of the Arts; 9. Economics of Arts Management and Strategy; Part III. The Fine Arts and Museums: 10. The Market in Works of Art; 11. The Economics of Art Museums; Part IV. Public Policy and Support for the Arts: 12. Theory and Practice of Government Support for the Arts; 13. Private Support for the Arts; Part V. Art, Economy, and Society: 14. The Arts as a Profession: Education, Training, and Employment; 15. The Role of the Arts in a Local Economy; 16. The Mass Media, Digital Access, and the Cultivation of Taste; 17. Innovation, Diversity, and the Future of Art and Culture; Bibliography; Index.