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The individual choice-public choice perspective and cultural economics

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Abstract

This chapter deals with the application to cultural economics of the individual choice-public choice perspective. The first section reviews the creative contributions of Alan T. Peacock to this concept and its application to cultural economics. The second section is devoted to the presentation of the fundamentals of this theoretical and policy construct for theoretical welfare economics and public economics, focusing on the interacting games between households as electorstaxpayers and consumers of public services, government, bureaucracies, and firms. The third section is devoted to the applications of this perspective to cultural economics-performing arts, heritage and broadcasting-with the focus on the relations between individuals as suppliers and consumers of cultural services and the other players of the public economy. Pricing and vouchers versus subsidies for the supply of cultural goods and quasi-privatization and privatization devices are examined as ways to enhance the individual freedom of choice, while increasing the efficiency and effectiveness of the supply of cultural goods in the interaction between market forces and the public economy.

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APA

Forte, F. (2016). The individual choice-public choice perspective and cultural economics. In The Artful Economist: A New Look at Cultural Economics (pp. 11–29). Springer International Publishing. https://doi.org/10.1007/978-3-319-40637-4_2

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