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Acknowledgement of the value of culture and cultural goods is increasing world-wide. So too is interest in finding methods to quantify this value so that governments and private sponsors can make efficient funding decisions. "Measuring the Value of Culture" documents methods that can be used to put a price on the arts and cultural goods, including theatre, heritage, cultural events (like arts festivals), museums, archaeological sites and libraries. The methods discussed include economic impact studies, which use market data, as well as non-market valuation techniques, like willingness to pay studies, and the newer choice experiments. In addition, advances in more qualitative valuation methods are considered. The book aims to give practitioners a practical guide to conducting such valuation studies, while also providing potential funders with a means of interpreting the results. The theoretical background of the various methods, their potential problems and the kind of information they can provide is also discussed.

Arts --- Culture --- Economic aspects. --- Microeconomics. --- Regional economics. --- Regional/Spatial Science. --- Price theory --- Economics --- Regional planning --- Regionalism --- Space in economics --- Spatial economics. --- Spatial economics --- Regional economics

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What a wonderful occasion it is to be celebrating 65 years of Hugo Sonn- schein! Given his many contributions to economic research and academia more broadly, there is much to celebrate. This volume, presented to Hugo at a confer­ ence in his honor at the University of Chicago in October 2005, highlights one of his deepest contributions. It is perhaps the hardest to detect from reading his bios and vita; but something that he is famous for among economists in general and economic theorists in particular. It is his incredible record as a mentor and advisor of students. In putting this volume together, we have collected papers from Hugo's students with the aim of demonstrating his tremendous impact as an advisor. The papers span decades, with the earliest coming from his advisees in the first years of his career and the most recent coming in the last two years after his return to research and advising that followed his adventures as a university administrator. The con­ tributors include not only his graduate advisees, but also some of his undergraduate advisees and still others who did not have him as an advisor, but nonetheless con­ sider him a primary mentor in their training as economic theorists. Each paper is accompanied with a brief preface by the student that provides background on the paper and indicates Hugo's influence on its genesis.

Microeconomics. --- Economics, Mathematical. --- Sonnenschein, Hugo. --- Price theory --- Economics --- Mathematical economics --- Econometrics --- Mathematics --- Methodology --- Economic theory. --- Economic Theory/Quantitative Economics/Mathematical Methods. --- Economic theory --- Political economy --- Social sciences --- Economic man --- Microeconomics

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Banks and banking --- Microeconomics --- 333.100 --- AA / International- internationaal --- 332.1 --- Price theory --- Economics --- Agricultural banks --- Banking --- Banking industry --- Commercial banks --- Depository institutions --- Finance --- Financial institutions --- Money --- Algemeenheden. Theorie en principes van de bankorganisatie en -techniek. --- Banks and banking. --- Microeconomics. --- Algemeenheden. Theorie en principes van de bankorganisatie en -techniek

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This paper investigates pass-through of external shocks (exchange rate, oil price, and import price shocks) to inflation in Sri Lanka. The analysis is based on a vector autoregression (VAR) model that incorporates a distribution chain of pricing. The paper finds low and incomplete pass-through of external shocks to consumer inflation, reflecting a combination of factors including the existence of administered prices, high content of food in the consumption basket, and low persistence and volatility of the exchange rate. External shocks explain about 25 percent of the variation in consumer price inflation, reflecting room for domestic policies in controlling inflation.

Prices --- Inflation (Finance) --- Finance --- Natural rate of unemployment --- Commercial products --- Commodity prices --- Justum pretium --- Price theory --- Consumption (Economics) --- Cost --- Costs, Industrial --- Money --- Cost and standard of living --- Supply and demand --- Value --- Wages --- Willingness to pay --- Foreign Exchange --- Inflation --- Macroeconomics --- Price Level --- Deflation --- Energy: Demand and Supply --- Currency --- Foreign exchange --- Consumer prices --- Exchange rates --- Oil prices --- Import prices --- Imports --- Sri Lanka

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Microeconomics --- Consumer behavior --- Economic man --- Self-interest --- 330.104 --- 330.101 --- 338.5/.9 --- 658.89.013 --- Conduct of life --- Self --- NIMBY syndrome --- Price theory --- Economics --- Homo oeconomicus --- Human beings --- Behavior, Consumer --- Buyer behavior --- Decision making, Consumer --- Human behavior --- Consumer profiling --- Market surveys --- 330.101 Economische analyse. Economische methodologie. Economische onderzoeksmethoden--(theoretische economie) --- Economische analyse. Economische methodologie. Economische onderzoeksmethoden--(theoretische economie) --- Micro-economie --- Consumentengedrag. Koopgewoonten. Psychologie van de consument