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Oxford Economic Papers 2003; 55:173-190
Copyright © 2003 Oxford Universty Press
Article |
Valuing congestion costs in the British Museum
Department of Economics, University College London, Gower Street, London, WC1E 6BT; also Hamburg University and the University of Southern Denmark; dma{at}sam.sdu.dk
Goldman Sachs
Abstract
Museums are potentially congestible resources because the exhibits they contain are, in any relevant sense of the word, irreproducible. Insofar as visitor congestion diminishes the value of individuals' visits it constitutes an additional reason for charging for admission to museums, albeit one not previously considered. A policy of free access to a museum containing unique treasures may dissipate the economic benefits of the museum. Within the context of an empirical study undertaken using valuation techniques it is shown that the congestion cost posed by the marginal visitor to the British Museum is £8.05. External benefits may nonetheless play a crucial role in determining whether it is appropriate to charge. Insofar as congestion is a widespread phenomenon in important museums and galleries the issues raised in this paper as well as the methodology devised to determine congestion costs could have widespread application.
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