Value and Culture

Motu Working Paper No. 13-09

51 Pages Posted: 2 Sep 2013

See all articles by Corey Allan

Corey Allan

Motu Economic and Public Policy Research Trust

Arthur Grimes

Motu Economic and Public Policy Research Trust

Suzi Kerr

Motu Economic and Public Policy Research Trust

Date Written: September 2013

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.

Keywords: value, culture, cultural policy, non-market valuation

JEL Classification: A11, A13, Z10, Z18

Suggested Citation

Allan, Corey and Grimes, Arthur and Kerr, Suzi, Value and Culture (September 2013). Motu Working Paper No. 13-09. Available at SSRN: https://ssrn.com/abstract=2319202 or http://dx.doi.org/10.2139/ssrn.2319202

Corey Allan

Motu Economic and Public Policy Research Trust ( email )

Level 1, 93 Cuba Street
P.O. Box 24390
Wellington, 6142
New Zealand

HOME PAGE: http://www.motu.org.nz/about/people/corey_allan

Arthur Grimes (Contact Author)

Motu Economic and Public Policy Research Trust ( email )

19 Milne Terrace
Island Bay
Wellington 6002
New Zealand

Suzi Kerr

Motu Economic and Public Policy Research Trust ( email )

Level 1, 93 Cuba Street
P.O. Box 24390
Wellington, 6142
New Zealand
+64 4 383 4250 (Phone)
+64 4 383 4270 (Fax)

Register to save articles to
your library

Register

Paper statistics

Downloads
47
Abstract Views
466
PlumX Metrics