This paper concerns whether contingent valuation methods could play a useful role in determining whether a particular work of art is of "recognized quality."
Paying the Piper, Calling the Tune: A Transaction Cost Politics Analysis of the National Endowment for the Arts
The brief history of the National Endowment for the Arts (NEA) provides a vivid illustration of the problem of optimal degrees of political monitoring and statutory control of agencies.
The field of cultural economics has had as a central concern the question of public funding of the arts. In general there have been two streams of analysis, which I will call the welfare economics approach and the public choice approach.
Lasting Effects Conference Summary and Edited Transcript (PDF) — Edited for clarity as well as concision, this document highlights the major themes of this conference. It provides a clear and brief introduction to current thinking about economic impact analyses. This document also contains a very informative introduction by Jonathan Katz and a glossary of economic terms.