On the Stabilization of Value in the Creative Industries
This chapter examines the importance of individualistic value by focusing on the experiences enabled by products of ‘creative industries’, which include markets for theatre performances, books, paintings, and works of music, as well as goods such as museum visits, video and computer games, fashion, and even advertising services. The chapter first reviews the characteristics of surprise-generating products before proceeding with a discussion of two mechanisms for anchoring valuation: the infinity relation of ‘praise value’ and the equivalence of ‘price value’. It then considers evidence on the use of ‘infinity operators’ in the contributions of creators, producers, amateurs, and critics along the value chain of creative industries' products. Finally, it highlights the potential of surprise products and their valuations as a major driver of global economic growth.
Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.
If you think you should have access to this title, please contact your librarian.