World Economics

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Title: A Night at the Opera: Subsidies, prices and repertoire at London’s opera houses
Author: Jeff Frank & Philip Wrigley
Published: September 2001
Pages: 167-176
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This paper considers how the behaviour of the two London opera houses differs from profit-maximisation, possibly in response to the high level of government funding and private donations. The opera houses put on more innovative and artistically rewarding operas than would be the case with profit-maximisation. They also have clear access policies in offering low-price and discounted tickets.

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