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By Bruno S. Frey

Using the industrial standpoint, this fascinating textual content deals an alternate view to sociological or artwork old ways to paintings. the problems mentioned contain: associations from fairs to "superstar" museums, diverse technique of helping the arts, an research into paintings as an funding, and a few of the techniques utilized whilst valuing our cultural properties.  this article demanding situations extensively held renowned perspectives and, as soon as all started, is tough to place down.

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Empirical evidence (see Frey and Pommerehne 1989a, chapter 9) shows that: by no means are all artists poor (van Gogh and Gauguin are exceptions and certainly not the rule); artists of high income are not necessarily of "poor" quality (defined according to art historians' evaluations); many "top-quality" artists have received very high incomes. Examples of the last two statements are, among painters, Rubens, Tiziano and Rembrandt8, Lenbach and Stuck, Picasso and Beuys; among composers, Mozart9 and Beethoven, Verdi and Wagner; among singers Domingo, Pavarotti and Carreras; among writers, Shakespeare and Goethe, Dickens, Hauptmann, Brecht and Thomas Mann.

In particular, when large numbers oftourists decide to visit the museums in the summer, prices could be raised. g. into the late evening, or to open additional wings. (b) Prices can also be differentiated between different types of visitors. For economic as well as for political reasons it can make sense to charge higher entrance fees to foreign visitors than to local visitors. e. when the marginal cost of a visit is (practically) zero. g. a film or TV celebrity showing a collection in the late evening with beautifully illuminated rooms).

9 million). Obviously, the idea is not to immediately sell all the paintings stored by all museums - which would, of course, depress market prices - but to slowly de-access. g. by buying a painting which fits better into that particular collection. In this context it might be argued that the museum decision makers are art historians who put a value on the paintings which differs from the market price. This is only relevant if the value attributed exceeds the market price (otherwise they would willingly sell).

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