Cultural capital is assumed to benefit all members of society. It is built up by the aggregate consumption of cultural goods and is diminished through depreciation. In the no-policy market economy, consumers tend to ignore the beneficial external effects of their cultural good consumption on the...

The aim of the paper is twofold: to carry out a contingent valuation study of "Napoli Musei Aperti", a cultural public good provided by the city of Naples, and to explore some alternative schemes of cultural policy. The paper is divided in two parts. In the first one some results from the...

Most artists earn very little. Nevertheless, there is no shortage of aspiring young artists. Do they give to the arts willingly or unknowingly? Governments and other institutions also give to the arts, to raise the low incomes. But their support is ineffective: subsidies only increase the...

This paper aims to determine if the contingent valuation method (CVM) can provide valid results useful in policy-making. This will be investigated by using a CV study that captures the willingness to pay (WTP) for the municipal cultural supply in Lueneburg, Germany. In contrast to previous CV...

An empirical overview of the UNESCO World Heritage List according to various characteristics is presented. The officially stated intention of the World Heritage List is to protect global heritage. Our focus is on the imbalance of the existing List according to countries and continents. The...

Much has been written identifying property price effects of historic preservation policies. Little attention has been paid to the possible policy endogeneity in hedonic price models. This paper outlines a general case of land use regulation in the presence of externalities and then demonstrates...

Policy makers from many regions where old industrial structures in the field of manufacturing have collapsed are trying to stimulate entrepreneurial activities of businesses in the cultural industry. The question is whether this strategy could be successful. This article examines the strategy of...

The UNESCO World Heritage List contains the 900 most treasured Sites of humanity's culture and landscapes. The World Heritage List is beneficial where heritage sites are undetected, disregarded by national decision-makers, not commercially exploitable, and where national financial resources,...