Beyond Price
Value in Culture, Economics, and the Arts

This book explores the tensions between economic and cultural value from a range of disciplines.

Michael Hutter (Edited by), David Throsby (Edited by)

9780521862233, Cambridge University Press

Hardback, published 10 December 2007

334 pages, 6 b/w illus. 29 colour illus.
23.5 x 15.9 x 2.5 cm, 0.65 kg

'Beyond Price is a rich source for anyone working on value in art and culture, and cultural production more generally. … the seventeen essays included in the volume provide an extensive and detailed overview of a multidisciplinary body of literature on value … an enriching read.' British Journal of Sociology

Much recent discussion surrounding valuation of the arts and culture, particularly in the policy arena, has been dominated by a concern to identify an economic and financial basis for valuation of art works, arts, activities and more general ways in which we express our culture. Whereas a great deal can be gained from a fuller understanding of the economic value of art, there is a real danger that financial considerations will tend to crowd out all other aspects of value. This book moves beyond the limitations implicit in a narrow economic approach, bringing different disciplinary viewpoints together, opening up a dialogue between scholars about the processes of valuation that they use and exploring differences and identifying common ground between the various viewpoints. The book's common theme – the tension between economic and cultural modes of evaluation – unites the chapters, making it a coherent and unified volume that provides a new and unique perspective on how we value art.

1. Value and valuation in art and culture: introduction and overview Michael Hutter and David Throsby
Part I. Origins of Meaning: 2. Creating value between cultures: contemporary Australian Aboriginal art Terry Smith
3. Entertainment value: intrinsic, instrumental, and transactional Richard Shusterman
4. Creating artistic from economic value: changing input prices and new art Michael Hutter
Part II. The Creation of Value in Artistic Work: 5. The creation of value by artists: the case of Hector Berlioz and the Symphonic Fantastique David Throsby
6. Art, honor, and excellence in early modern Europe Elizabeth Honig
7. Rubbish and aura: archival economics Kurt Heinzelman
Part III. Continuity and Innovation: 8. Value in Yolngu ceremonial song performance: continuity and change Steven Knopoff
9. The ritual and the promise: why people value social ritual Lourdes Arizpe
10. 'More than Luther of these modern days': the construction of Emerson's reputation in American culture 1882–1903 Richard Teichgraeber
Part IV. Appreciation and Ranking: 11. Quantitative approaches to valuation in the arts, with an application to movies Victor Ginsburgh and Sheila Weyers
12. Confluence of cultural and economic values: three historical moments Neil De Marchi
13. Agreements of judgements: Masaccio and the Chapmans Carolyn Wilde
14. Time and preferences in cultural consumption Marina Bianchi
Part V. Cultural Policies: 15. What values should count in the arts? The tension between economic effects and cultural value Bruno Frey
16. The public value of controversial art: the case of the Sensation exhibit Arthur Brooks
17. Going to extremes: commerical and non-profit valuation in the U.S. arts system William Ivey.

Subject Areas: Economic theory & philosophy [KCA], Economics [KC], Sociology [JHB], Cultural studies [JFC]