In this study, Armbrecht compares Customer valuation method (CVM) and Travel Cost method (TCM) to study which better assesses use value for cultural institutions. The author compared a concert hall and a museum. This was done because different institutions have different reasons for being built and for being visited. I find this to be a significant consideration for studies like this one. One institution may value grants and funding for research over visitor enjoyment. The comparison in this study showed that the value estimates between both CVM and TCM differ significantly, especially when motivations for visiting a site are part of a larger “bundle” of experiences. I think studies like this are important. Many cultural institutions are funded by grants, and those grants are only given when value can be proven. Along with that thought, the people who donate to fund those grants may be the same visitors who enjoy the institutions. Value assessments are important beyond grants as well. Private funding has a lot of influence when it comes to research and business. I also think researchers and academics may not always realize that they are just one type of user of cultural sites and institutions. Their values may not always reflect what people want in a cultural experience.
Armbrecht, J. (2014). Use value of cultural experiences: A comparison of contingent valuation and travel cost. Tourism Management, 42, 141–148. https://doi.org/10.1016/j.tourman.2013.11.010
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