The presence of information externality, and the consequent necessity of public intervention to amend the effect of market failure, has been deeply analysed in the case of scientific research. In this Note we argue that the same point is particularly appropriate also in the case of arts: the...

Earlier work on the supply of labour of artists has shown that, whenever workers derive satisfaction from the process of work, which is usually the case for artists, some traditional results are reversed. As their proponents make clear this analysis is essentially static, as it does not take...

This article takes a time-series analysis approach to evaluate the directions of causality between tourism flows, on the one side, and museum and monument attendance, on the other. We consider Italy as a case study, and analyse monthly data over the period January 1996 to December 2010. All the...

This article questions the assumption that exchange rates are non-seasonal and provides selected evidence of monthly time series of exchange rates in which significant seasonal components are present. However, the seasonal component appears to be absent in more recent data. Tentative...

Economics is a matter of choice and growth, of interaction and exchange among individuals. Because property rights define the rules of these interactions and the objects of exchange, it is vital to fully understand the institutions and implications of the various property-rights regimes. With...

This book analyses the economic development of cities from the ‘cultural economy’ and ‘creative industry’ perspectives, examining and differentiating them as two related but distinct segments of contemporary city economies. The authors argue that although they are...

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...

– The purpose of this article is to describe the evolution of the tourism industry in Italy during the recent years of the so-called ‘Great recession’ (2008-12). We highlight the most prominent features of the changes occurred in both the supply and the demand side, over these years. We...

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...