Economists have long sought to better understand how cultural value is transformed into economic value in creative industries. We propose a three-phase model for this mechanism in which the economic creation of cultural value begins with private cultural production and consumption from which a cultural entrepreneur discovers or perceives meaning. A cultural trajectory then unfolds through a second phase as meaning is refined, tested, developed into a shared experience in a cultural market. In the third phase, meaning is organized into an economic and cultural form and feeds back into cultural production. We illustrate this model of a ‘market for meaning’ with a case study of K-pop. We discuss implications of our model for theories of the entrepreneurial process and theories of cultural and creative industries.

长期以来，经济学家一直试图更好地了解创意产业如何将文化价值转化为经济价值。我们为此机制提出了一个三阶段模型，其中文化价值的经济创造始于私人文化生产和消费，文化企业家从中发现或感知意义。然后，随着意义的细化，检验，发展成在文化市场中的共享经验，文化轨迹就会展开到第二阶段。在第三阶段，意义被组织成一种经济和文化形式，并反馈到文化生产中。我们通过对K-pop的案例研究来说明这种“有意义的市场”模型。我们讨论了我们的模型对创业过程理论以及文化和创意产业理论的启示。