On the Use of Life Satisfaction Data for Valuing Cultural Goods: A First Attempt and a Comparison with the Contingent Valuation Method
Salvador Saz-Salazar (),
Ana Navarrete-Tudela,
José Ramón Alcalá-Mellado and
Daniel Carlos Saz-Salazar
Additional contact information
Salvador Saz-Salazar: University of Valencia
Ana Navarrete-Tudela: University of Castile-La Mancha
José Ramón Alcalá-Mellado: University of Castile-La Mancha
Daniel Carlos Saz-Salazar: University of Castile-La Mancha
Journal of Happiness Studies, 2019, vol. 20, issue 1, No 8, 119-140
Abstract:
Abstract This article shows how life-satisfaction data can be used as a novel approach to value cultural goods since the contingent valuation method, although widely used, is still the subject of an intense controversy. The cultural good object of valuation is the Contemporary Art Archives and Collections of the Faculty of Fine Arts of the city of Cuenca (Spain) that constitutes a cultural legacy of great value for the community at large. Both methodologies are compared and results provide evidence that the Life Satisfaction Approach can generate meaningful values of cultural goods of use nature and non-use nature. Thus, adding a new tool of analysis expands the scope for the economic valuation of cultural goods. Finally, the pros and cons of this novel approach are discussed.
Keywords: Life Satisfaction Approach; Happiness; Subjective well-being; Contingent valuation; Cultural goods; Non-market valuation (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)
Downloads: (external link)
http://link.springer.com/10.1007/s10902-017-9942-2 Abstract (text/html)
Access to the full text of the articles in this series is restricted.
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:spr:jhappi:v:20:y:2019:i:1:d:10.1007_s10902-017-9942-2
Ordering information: This journal article can be ordered from
http://www.springer. ... fe/journal/10902/PS2
DOI: 10.1007/s10902-017-9942-2
Access Statistics for this article
Journal of Happiness Studies is currently edited by Antonella Delle Fave
More articles in Journal of Happiness Studies from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().