Economics of Art Museums: An Econometric Analysis of Museum Membership in the United States
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The purpose of this research is to identify the ideal conditions that lead to greater membership levels in fine art museums within the United States. I examine three different categories that impact a museum’s success. These are (1) the effects of income and population, (2) the size and longevity of the museum, and (3) the type of organization. Upon forming and analyzing a multiple regression model created from these three segmentations, it is clear that the effects of population, physical size, and charging admission have positive impacts on museum membership levels. The results of this paper will provide museum staff with economic insight on the factors that affect their museum membership rates.
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