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...

China is the largest consumer of energy, the leading exporter of manufactured goods and possesses the second largest economy in the world. The great dragon’s current economic activity extends to all corners of the world, including the hydrocarbon-rich Middle East. Since becoming a net...