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RESEARCH PRODUCT

Economic value of a local museum

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Abstract The aim of this paper is to determine the economic value of a local cultural history museum, namely, the Museum of Central Finland in Jyvaskyla. This study also seeks to clarify what factors affect the willingness-to-pay for the Museum. Data were gathered from a sample of Jyvaskyla residents aged 18 and over via a postal questionnaire in November and December 1997. The results indicate that in reality, Jyvaskyla residents contribute less in taxes to the Museum than they report that they are willing to pay. This indicates that at least the present amount of tax revenue can justifiably be directed to the Museum. Maintenance of the Museum can thus be legitimised on the basis of the public’s willingness-to-pay. The difference between users (visitors) and non-users is analysed in detail. The results show that although a large proportion of the respondents had not visited the Museum very often, they nonetheless reported willingness-to-pay for its existence and for the possibility to visit it in the future. The Museum thus has non-use value, i.e. that the non-market benefits of the Museum reported by the local residents can be argued to legitimize public support for the Museum. A prognostic model of the willingness to maintain the Museum is constructed. The results indicate, firstly, that from the viewpoint of public willingness-to-pay it would be important to encourage the inhabitants of Jyvaskyla to visit the Museum of Central Finland and museums in general. Furthermore, the willingness-to-pay for the Museum is explained by other uses of culture, such as visits to art exhibitions and concerts.