How influence is willing to pay on the cultural creative goods ?

Abstract

Consumers attend the performance art, cultural tourism, or a live performance may be influenced by their willingness to pay, preference and obtained information. We adopt a similar approach like Huang et al. [Journal of Information & Optimization Sciences, Vol. 33 (2012), No.1] by applying bivariate normal distribution to identify the impact of consumer's willingness to pay on the cultural creative goods.

A demand model for cultural creative goods was constructed. The study findings revealed that the influence of consumer willing to pay on the demand for cultural creative goods were the more mean value of consumer willing to pay, the more demand for cultural creative goods. Our research serves not only contribute to the cultural economics literature, but also provides information to local government officials about consumer's willingness to pay.

Keywords:

• willingness to pay
• bivariate normal distribution
• cultural creative goods
• cultural economics