Economic analysis and valuation of cultural and intellectual property heritage of classical performing arts theatres of India: Lessons from four case studies

Abstract

Cultural Studies and studies on Arts in general, have focused on the history, philosophy and aesthetics of Classical Performing Arts. There have been in-depth studies that have looked at plays , dance forms and related art forms in terms of genres, texts , philosophical underpinnings, natya sastra treatises, narratives and choreographic styles. Indeed in USA and Europe there has been focus on the economics of theatres and art forms. The issue of financing modes and management has figured prominently in cultural economics studies in these countries (Towse, 2010).The cost disease problem and the importance of design of contracts between arts and commercial entities for value realization have been discussed by Baumol et al (1966) and Caves (2002). Though there are few studies that have looked at Intellectual Property (IP) Protection of art forms, these are confined to the legal dimension and do not look at the economics and management dimensions. The reasons for the neglect of IP by cultural theorists have been brought out in Towse (2008). In India there have been very few efforts to understand the economics and management of art forms - much less an effort to look at IP protection in classical art forms ,from an economic perspective.