Abstract
Modern economics includes two fundamentally different fields, but identically labelled ‘Cultural Economics’. The first type deals with cultural institutions in a specific sector of the economy and society: the performing arts, visual arts, and other forms of cultural industry. The second type analyses how culture influences the economy in the form of shared beliefs, norms, and preferences. The two types of Cultural Economics largely disregard each other. This paper argues that their mutual existence should be acknowledged and possible relationships between the fields should be analysed. Future interconnected research opportunities are suggested.
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Acknowledgements
We are very grateful for intensive discussions and helpful suggestions to Karlis Briviba, Reiner Eichenberger, René Frey, Vanessa Kasties, Arjo Klamer, John O'Hagan, Margit Osterloh, Enrico Spolaore, David Stadelmann, Alois Stutzer, Luke Tapsak, David Throsby, and Ruth Towse.
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Frey, B.S., Briviba, A. Two types of cultural economics. Int Rev Econ 70, 1–9 (2023). https://doi.org/10.1007/s12232-022-00410-7
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DOI: https://doi.org/10.1007/s12232-022-00410-7