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Beyond Price
Value in Culture, Economics, and the Arts

$60.99 (P)

Part of Murphy Institute Studies in Political Economy

Michael Hutter, David Throsby, Terry Smith, Richard Shusterman, Elizabeth Honig, Kurt Heinzelman, Steven Knopoff, Lourdes Arizpe, Richard Teichgraeber, Victor Ginsburgh, Sheila Weyers, Neil De Marchi, Carolyn Wilde, Marina Bianchi, Bruno Frey, Arthur Brooks, William Ivey
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  • Date Published: June 2011
  • availability: Available
  • format: Paperback
  • isbn: 9780521183000

$ 60.99 (P)

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About the Authors
  • How do we place a value on a painting, or a piece of music, or a traditional ritual? The market can determine a price in monetary terms for a variety of cultural phenomena, but how much does that tell us about the real value of these things? This book explores the tensions between economic and cultural value from a range of disciplinary viewpoints and provides many new insights into how value is constructed in contemporary society.

    • Multidisciplinary approach to questions of the economic and cultural value of art
    • Innovative perspectives on the valuation of art and culture in contemporary society
    • Accessible to non-specialist readers, as well as in economics, sociology, cultural studies, history and anthropology
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    Reviews & endorsements

    "Well-known economists of the arts and culture join with colleagues in other social sciences and in the humanities through a series of papers that were shared, revised in light of insights and new perspectives gained from other participants, and finally brought together in this collection. Recommended." - Choice

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    Product details

    • Date Published: June 2011
    • format: Paperback
    • isbn: 9780521183000
    • length: 334 pages
    • dimensions: 230 x 154 x 19 mm
    • weight: 0.5kg
    • contains: 6 b/w illus. 29 colour illus.
    • availability: Available
  • Table of Contents

    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.

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    Beyond Price

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  • Instructors have used or reviewed this title for the following courses

    • Art and Economics
    • Cultural Economics
    • Cultural Policy
  • Editors

    Michael Hutter, Social Science Research Center Berlin
    Michael Hutter is Director of the Research Unit 'Cultural Sources of Newness' at the Social Science Research Center Berlin and holds a Research Professorship at the Institute for Sociology of the Technical University Berlin.

    David Throsby, Macquarie University, Sydney
    David Throsby is Professor of Economics at Macquarie University in Sydney, Australia. He has published widely in the economics of the arts and culture, including most recently The Economics of Cultural Policy (Cambridge University Press, 2010).


    Michael Hutter, David Throsby, Terry Smith, Richard Shusterman, Elizabeth Honig, Kurt Heinzelman, Steven Knopoff, Lourdes Arizpe, Richard Teichgraeber, Victor Ginsburgh, Sheila Weyers, Neil De Marchi, Carolyn Wilde, Marina Bianchi, Bruno Frey, Arthur Brooks, William Ivey

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