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What Is Historic Integrity Worth to the General Public? Evidence from a Proposed Relocation of a West Virginia Agricultural Mill

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Author Info

  • Maskey, Vishakha
  • Brown, Cheryl
  • Collins, Alan R.
  • Nassar, Hala F.

Abstract

While historians believe that preserving a historic building in its original location is important to maintain its historic integrity, the general publicÂ’s opinion is unknown. Survey data were gathered from local residents regarding a proposed relocation of a historic mill in rural West Virginia. Only a minority of the sample population supported preserving the mill at its original location. Willingness to pay for preservation was estimated at $8.45 for a one-time donation for the sample and $2.29 after adjusting for non-respondents using characteristics of the local population.

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File URL: http://purl.umn.edu/10165
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Bibliographic Info

Article provided by Northeastern Agricultural and Resource Economics Association in its journal Agricultural and Resource Economics Review.

Volume (Year): 36 (2007)
Issue (Month): 1 (April)
Pages:

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Handle: RePEc:ags:arerjl:10165

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Web page: http://www.narea.org/
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Related research

Keywords: contingent valuation; historic preservation; Tobit model; willingness to pay; Demand and Price Analysis; Resource /Energy Economics and Policy;

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  1. Arabmazar, Abbas & Schmidt, Peter, 1982. "An Investigation of the Robustness of the Tobit Estimator to Non-Normality," Econometrica, Econometric Society, vol. 50(4), pages 1055-63, July.
  2. Pagan, Adrian & Vella, Frank, 1989. "Diagnostic Tests for Models Based on Individual Data: A Survey," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 4(S), pages S29-59, Supplemen.
  3. Pate, Jennifer & Loomis, John, 1997. "The effect of distance on willingness to pay values: a case study of wetlands and salmon in California," Ecological Economics, Elsevier, vol. 20(3), pages 199-207, March.
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