Beyond Price

Michael Hutter is Director of the Research Unit 'Cultural Sources of Newness' at the Social Science Research Center Berlin and holds a Research Professorship at the Institute for Sociology of the Technical University Berlin. David Throsby is Professor of Economics at Macquarie University in Sydney, Australia. He has published widely in the economics of the arts and culture, including most recently The Economics of Cultural Policy (Cambridge University Press, 2010).

• 1. Value and valuation in art and culture: introduction and overview Michael Hutter and David Throsby; Part I. Origins of Meaning: 2. Creating value between cultures: contemporary Australian Aboriginal art Terry Smith; 3. Entertainment value: intrinsic, instrumental, and transactional Richard Shusterman; 4. Creating artistic from economic value: changing input prices and new art Michael Hutter; Part II. The Creation of Value in Artistic Work: 5. The creation of value by artists: the case of Hector Berlioz and the Symphonic Fantastique David Throsby; 6. Art, honor, and excellence in early modern Europe Elizabeth Honig; 7. Rubbish and aura: archival economics Kurt Heinzelman; Part III. Continuity and Innovation: 8. Value in Yolngu ceremonial song performance: continuity and change Steven Knopoff; 9. The ritual and the promise: why people value social ritual Lourdes Arizpe; 10. 'More than Luther of these modern days': the construction of Emerson's reputation in American culture 1882–1903 Richard Teichgraeber; Part IV. Appreciation and Ranking: 11. Quantitative approaches to valuation in the arts, with an application to movies Victor Ginsburgh and Sheila Weyers; 12. Confluence of cultural and economic values: three historical moments Neil De Marchi; 13. Agreements of judgements: Masaccio and the Chapmans Carolyn Wilde; 14. Time and preferences in cultural consumption Marina Bianchi; Part V. Cultural Policies: 15. What values should count in the arts? The tension between economic effects and cultural value Bruno Frey; 16. The public value of controversial art: the case of the Sensation exhibit Arthur Brooks; 17. Going to extremes: commerical and non-profit valuation in the U.S. arts system William Ivey.

'Beyond Price is an important contribution to the growing interdisciplinary literature on the varied notions of “value” and in particular the conflicts between traditional economics-centered and culture-centered conceptions of value. These issues are of great moment in all cultural disciplines, including cultural economics, the home field of the collection. The book moves the literature a step ahead by focusing on how and why the methodological innovations implied by this work should be implemented. The contributing scholars are first-rate, and Hutter and Throsby themselves have very strong and distinguished reputations in the field of cultural economics.' Randall Mason, University of Pennsylvania