Pay as you go: a new proposal for museum pricing

Abstract

Abstract Museums have many different goals beyond economic efficiency, such as creating educational value, financial revenue, attracting donors, and gaining international or local prestige. Various pricing schemes with the aim of reaching these goals have been discussed. The classical pricing schemes are entry prices and free entry with exit donations, allowing for various additional goals. Each scheme has advantages and disadvantages. We propose an innovative pricing instrument: exit prices that reflect the time spent in a museum. This scheme has a number of advantages, in particular to increase the satisfaction and number of visitors.