Contingent valuation methods (CVM) are now well established as a means of measuring the nonmarket demand for cultural goods and services. When combined with valuations provided through market processes (where relevant), an overall assessment of the economic value of cultural commodities can be...

Economists traditionally distinguish between three forms of capital: physical capital, human capital and natural capital. This paper proposes a fourth type of capital, cultural capital. An item of cultural capital is defined as an asset embodying cultural value. The paper considers usage of the...

Whose preferences determine the tradeoff between security and civilian output in deciding upon budget allocations to defence? This paper considers the role that consumer preferences might play in influencing military spending. We propose normative criteria to judge the economic or political...

In 1857 in Manchester John Ruskin delivered two public lectures which he titled The Political Economy of Art. Can these lectures be seen in the history of economic thought as prefiguring the contemporary field of cultural economics? This article considers six issues of interest in the economics...

This research project on the valuation of cultural heritage is developing a methodology for a quantitative valuation study of the use and non-use values of historic heritage places. The methodology developed in this project will provide a template for subsequent empirical applications to...