TITLE

Information Externality in the Arts and the Public Intervention: A Note

AUTHOR(S)
Cellini, Roberto; Cuccia, Tiziana
PUB. DATE
March 2011
SOURCE
European Journal of Scientific Research;3/ 1/2011, Vol. 51 Issue 1, p40
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
The presence of information externality, and the consequent necessity of public intervention to amend the effect of market failure, has been deeply analysed in the case of scientific research. In this note we argue that the same point is particularly appropriate also in the case of arts: the presence of information externality concerning the personal skills of artists can represent a valid reason to believe that purely private funding of arts is inefficient, and to call for public intervention in this sector.
ACCESSION #
69832555

 

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