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2 results

  • 11 - The Economics of Art Museums

  • from Part III - The Fine Arts and Museums
  • Karol J. Borowiecki, University of Southern Denmark, Charles M. Gray, University of St Thomas, Minnesota, James Heilbrun, Fordham University, New York
  • Book:
    The Economics of Art and Culture
    Published online:
    24 November 2023
    Print publication:
    28 September 2023, pp 153-172

  • Summary

    This chapter addresses resource allocation, management of investment portfolios, and price determination issues of museums. We start by describing the role of museums and summarizing attendance at art museums. Next, we describe the cost conditions under which museums operate as well as the sources of revenue of museums. Following this, we describe the acquisition policies and management of museum’s collections. Finally, we elaborate on the concept of “superstar” museums.

  • Terrorism and Wine Tourism: The Case of Museum Attendance

  • Olivier Gergaud, Florine Livat, Haiyan Song
  • Journal:
    Journal of Wine Economics / Volume 13 / Issue 4 / November 2018
    Published online by Cambridge University Press:
    20 November 2018, pp. 375-383

  • In this article, we use attendance data from La Cité du Vin, a wine museum in the city of Bordeaux, to assess the impact of the recent wave of terror that affected France on wine tourism. We use recent count regression estimation techniques suited for time series data to build a prediction model of the demand for attendance at this museum. We conclude that the institution lost about 5,000 visitors over 426 days, during which 14 successive terrorist attacks took place. This corresponds to almost 1% of the total number of visitors in the sample period. (JEL Classifications: L83, Z30)