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Author: | Colonna, C. |
Title: | The economic contribution of volunteerism toward the value of our cultural inventory |
Journal: | Journal of Cultural Economics
1995 : VOL. 19:4, p. 341-350 |
Index terms: | ECONOMICS CULTURE |
Language: | eng |
Abstract: | Scholars for centuries have been investigating and debating what determines the value of a good or service. However, the market has chosen to ignore what has been categorized as non-market transaction such as volunteerism. This paper will examine the economic contribution of volunteerism and its impact on our cultural inventory. Economic literature reveals three possible alternative methods to calculating the dollar figure of non-compensated volunteerism. They are Opportunity Cost Approach, Value-Added Approach, and Market Price Equivalency Model. |
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