What determines the price drop of a pop concert or an opera? Why does Hollywood dominate the film industry? Does illegal downloading damage the record industry? Does free entry to museums bring more visitors? In A Textbook of Cultural Economics, one of the world's leading cultural economists shows how we can use the theories and methods of economics to answer these and a host of other questions concerning the arts (performing arts, visual arts, and literature), heritage (museums and built heritage) and creative industries (the music, publishing, and film industries, broadcasting). Using international examples and covering the most up-to-date research, the book does not assume a prior knowledge of economics. It is ideally suited for students taking a course on the economics of arts as part of an arts administration, business, management, or economics degree.