This chapter considers the economic dimensions of prizes and awards in the arts. It first treats the role of awards in the markets for artistic goods: their effect on sales, earnings, and consumer demand, and their function as judgment devices or quality signals. Also discussed are the costs of...

Introduction : understanding cultural political economy / Jacqueline Best and Matthew Paterson -- pt. 1: Interrogating the classics. Undressing the wound of wealth : political economy as a cultural project / David L. Blaney and Naeem Inayatullah -- Works, products, and the division of labour :...