The second edition of this widely acclaimed and extensively cited collection of original contributions by specialist authors reflects changes in the field of cultural economics over the last eight years. Thoroughly revised chapters alongside new topics and contributors bring the Handbook up-to-date, taking into account new research, literature and the impact of new technologies in the creative industries. The book covers a range of topics encompassing the creative industries as well as the economics of the arts and culture, and includes chapters on: economics of art (including auctions, markets, prices, anthropology), artists' labour markets, creativity and the creative economy, cultural districts, cultural value, globalization and international trade, the internet, media economics, museums, non-profit organisations, opera, performance indicators, performing arts, publishing, regulation, tax expenditures, and welfare economics.

Cultural economics has become well established as a subject of interest for students and teachers of courses ranging from economics to arts administration as well as for policy-makers and practitioners in the creative industries. Digitisation has had a tremendous impact on many areas of the creative economy and the third edition of this popular book fully reflects it.

This book provides a fascinating look at the economics of the arts, heritage and creative industries.

This volume emphasizes the economic aspects of art and culture, a relatively new field that poses inherent problems for economics, with its quantitative concepts and tools. Building bridges across disciplines such as management, art history, art philosophy, sociology, and law, editors Victor Ginsburgh and David Throsby assemble chapters that yield new perspectives on the supply and demand for artistic services, the contribution of the arts sector to the economy, and the roles that public policies play. With its focus on culture rather than the arts, Ginsburgh and Throsby bring new clarity and definition to this rapidly growing area. - Presents coherent summaries of major research in art and culture, a field that is inherently difficult to characterize with finance tools and concepts - Offers a rigorous description that avoids common problems associated with art and culture scholarship - Makes details about the economics of art and culture accessible to scholars in fields outside economics

'Ruth Towse is to be congratulated on assembling such a high quality range of writers on cultural economics and on orchestrating their contributions so expertly. From anthropology and auctions through copyright and superstars to visual arts and welfare economics, scholars and general readers alike will discover in this Handbook an absorbing compendium of entries covering the main themes of a fascinating sub-discipline.' - Martin Ricketts, University of Buckingham, UK 'The best collection on cultural economics, definitive. An invaluable, original, and important addition to the field. Ruth Towse is the perfect person to put such a book together. Unlikely to be surpassed anytime soon.' - Tyler Cowen, George Mason University, Mercatus Center and James Buchanan Center for Political Economy, US A Handbook of Cultural Economics includes over 60 eminently readable and concise articles by 50 expert contributors. This unique Handbook is both highly informative and readable; it covers a wide area of cultural economics and its closely related subjects. While being accessible to any reader with a basic knowledge of economics, it presents a comprehensive study at the fore-front of the field. Of the many subjects discussed, chapters include: Art (including auctions, markets, prices, anthropology), artists' labour markets, arts management and corporate sponsorship, globalization, the internet, media economics, museums, non-profit organisations, opera, performance indicators, performing arts, publishing, regulation, tax expenditures, value of culture and welfare economics.

Over the last 30 or 40 years a substantial literature has grown up in which the tools of economic theory and analysis have been applied to problems in the arts and culture. Economists who have surveyed the field generally locate the origins of contemporary cultural economics as being in 1966, the year of publication of the first major work in modern times dedicated specifically to the economics of the arts. It was a book by Baumol and Bowen which showed that economic analysis could illuminate the supply of and demand for artistic services, the contribution of the arts sector to the economy, and the role of public policy. Following the appearance of the Baumol and Bowen work, interest in the economics of the arts grew steadily, embracing areas such as demand for the arts, the economic functions of artists, the role of the nonprofit sector, and other areas. Cultural economics also expanded to include the cultural or entertainment industries (the media, movies, the publishing industry, popular music), as well as heritage and museum management, property right questions (in particular copyright) and the role of new communication technologies such as the internet. The field is therefore located at the crossroads of several disciplines: economics and management, but also art history, art philosophy, sociology and law. The Handbook is placed firmly in economics, but it also builds bridges across these various disciplines and will thus be of interest to researchers in all these different fields, as well as to those who are engaged in cultural policy issues and the role of culture in the development of our societies. *Presents an overview of the history of art markets *Addresses the value of art and consumer behavior toward acquiring art *Examines the effect of art on economies of developed and developing countries around the world

Non-technical analysis of how cultural industries contribute to economic growth and the policies required to ensure cultural industries will flourish.