@techreport{Cheng2005Cultural,
abstract = {Cultural capital is assumed to benefit all members of society. It is accumulated through the
consumption of cultural services and is diminished through depreciation. Using the stock of
cultural goods, cultural services are provided by the cultural services industry; the stock of
cultural goods is enlarged by the flow of new cultural goods created by individuals who are
both consumers and creators of culture and whose utility is positively affected by the cultural
goods they created. In the no-policy market economy, individuals tend to ignore the positive
external effects of their cultural services consumption and creation of cultural goods on other
individuals via augmenting cultural capital and cultural-goods stock. Consequently, less cultural
capital and cultural-goods stock will be accumulated. The efficient allocation can be restored
by introducing an appropriate subsidy that stimulates the consumers? demand for cultural
services, and the creation of new cultural goods, promotes the accumulation of cultural
capital and cultural goods.},
author = {Sao-Wen Cheng},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {Z1; H3; H2; 330; cultural capital; cultural services; cultural goods; Kulturgut; Kultur\"{o}konomik; Theorie},
language = {eng},
number = {119},
title = {Cultural Goods Production, Cultural Capital Formation and the Provision of Cultural Services},
type = {Volkswirtschaftliche Diskussionsbeitr\"{a}ge / Universit\"{a}t-Gesamthochschule-Siegen, Fachbereich Wirtschaftswissenschaften},
url = {http://hdl.handle.net/10419/23298},
year = {2005}
}
