The fundraising efficiency in U.S. non-profit art organizations: an application of a Bayesian estimation approach using the stochastic frontier production model |
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Authors: | Seongho Song David T Yi |
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Institution: | (1) Department of Mathematical Sciences, University of Cincinnati, Cincinnati, OH, USA;(2) Department of Economics, Xavier University, Cincinnati, OH 45207, USA;; |
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Abstract: | This article examines how efficient art organizations are in raising funds from private giving. We measure fundraising efficiency
using a Bayesian estimation approach using the stochastic frontier production model. We show that fundraising efficiencies
are generally quite low for art organizations in the U.S. when private giving is only considered as a fundraising output;
however, when the effect of fundraising on ticket sales is considered, fundraising efficiencies improve substantially. We
also show that government grants have a negative impact on fundraising efficiency and therefore partially crowd out private
giving. |
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Keywords: | |
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