Factor-Improving Technology and Product-Improving Technology: Theory of Quality and Cultural Programming
GENERAL
Paper presented at the Proceedings of the Fourth International Conference on Cultural Economics held May 12-14, 1986, at the Palace of the Popes in Avignon, France.
In this paper a general model of equilibrium for product-improving technologies is put forth. In the present analysis, the focus is on symphony orchestras, theatres or other forms of leisure time consumption where artistic and cultural elements and entertainment are welded into a complex unit. Quality has a multiplicative effect on price.
Includes references.