Economic Judgment: The Regional Culture Agency and the Governance of Culture Budgets

Alexander Styhre
Additional contact information
Alexander Styhre: University of Gothenburg

Chapter 5 in Professionals Making Judgments, 2013, pp 148-179 from Palgrave Macmillan

Abstract: Abstract Economic judgment is the professional skill of reconciling the interests of various stakeholders and institutions when determining a price for a commodity, service, or any other resource lending itself to economization. The determining of a price essentially includes two procedures, the valuation of the resource, that is, the determining of its social and economic value, and the commensuration of the resource, that is, the assessment of how a certain resource should be valued in relationship to other resources. In many cases, these two procedures are intimately connected, as economic worth is by and large determined by the alternative costs for buying, say, a specific commodity. If I buy an apple because I like apples, I also use the money I have to not buy a pear, and while my preference for an apple is higher than for a pear (testifying to my higher “apple utility,” an economist could have said), I may be more or less aware of the possible alternative uses of the money. In everyday consumption, the valuation and commensuration of commodities and services is an everyday, mundane practice, routinely executed, for example, when shopping for groceries, but many valuation and commensuration procedures are complex analytical and political procedures demanding much investigation, negotiation, and regulatory control.

Keywords: Political System; Culture Politics; Culture Agency; Creative Industry; Culture Field (search for similar items in EconPapers)
Date: 2013
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-36957-4_6

Ordering information: This item can be ordered from
http://www.palgrave.com/9781137369574

DOI: 10.1057/9781137369574_6

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().