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Architektur, Ökonomie - Architekturökonomie

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  • Gabriel M. Ahlfeldt

Abstract

This article discusses the provision of sophisticated architecture from the perspective of welfare economics. Given that rational real estate investors do not take into account the external effects of building design quality on the neighborhood, there is a risk of underinvestment into the external appearance of buildings in the market equilibrium. Whether public interventions as well as recent attempts to promote urban economic development by architectural landmark projects are justified, however, essentially depends on the existence of significant spillovers. On this background, we discuss evidence on architectural externalities available for Berlin, Germany and provide fist estimates of aggregated external benefits. Copyright 2010 die Autoren. Perspektiven der Wirtschaftspolitik 2010 Verein für Socialpolitik.

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Bibliographic Info

Article provided by Verein für Socialpolitik in its journal Perspektiven der Wirtschaftspolitik.

Volume (Year): 11 (2010)
Issue (Month): 4 (November)
Pages: 340-355

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Handle: RePEc:bla:perwir:v:11:y:2010:i:4:p:340-355

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  1. John F. Kain, 1989. "The Economics of Architecture and Urban Design: Some Preliminary Findings," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 17(2), pages 261-266.
  2. Asabere, Paul K & Hachey, George & Grubaugh, Steven, 1989. "Architecture, Historic Zoning, and the Value of Homes," The Journal of Real Estate Finance and Economics, Springer, vol. 2(3), pages 181-95, September.
  3. Charles C. Tu, 2005. "How Does a New Sports Stadium Affect Housing Values? The Case of FedEx Field," Land Economics, University of Wisconsin Press, vol. 81(3).
  4. Gabriel Ahlfeldt & Wolfgang Maennig, 2010. "Impact of sports arenas on land values: evidence from Berlin," The Annals of Regional Science, Springer, vol. 44(2), pages 205-227, April.
  5. Gabriel Ahlfeldt & Wolfgang Maennig, 2010. "Stadium Architecture and Urban Development from the Perspective of Urban Economics," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 34(3), pages 629-646, 09.
  6. Leslie Sklair, 2005. "The Transnational Capitalist Class and Contemporary Architecture in Globalizing Cities," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 29(3), pages 485-500, 09.
  7. Bruno S. Frey & Susanne Neckermann, 2005. "Auszeichnungen: ein vernachlässigter Anreiz," CREMA Working Paper Series 2005-14, Center for Research in Economics, Management and the Arts (CREMA).
  8. Asabere, Paul K & Huffman, Forrest E & Mehdian, Seyed, 1994. "The Adverse Impacts of Local Historic Designation: The Case of Small Apartment Buildings in Philadelphia," The Journal of Real Estate Finance and Economics, Springer, vol. 8(3), pages 225-34, May.
  9. Kennedy, Peter E, 1981. "Estimation with Correctly Interpreted Dummy Variables in Semilogarithmic Equations [The Interpretation of Dummy Variables in Semilogarithmic Equations]," American Economic Review, American Economic Association, vol. 71(4), pages 801, September.
  10. Rosen, Sherwin, 1974. "Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition," Journal of Political Economy, University of Chicago Press, vol. 82(1), pages 34-55, Jan.-Feb..
  11. Carolyn A. Dehring & Craig A. Depken & Michael R. Ward, 2007. "The Impact Of Stadium Announcements On Residential Property Values: Evidence From A Natural Experiment In Dallas-Fort Worth," Contemporary Economic Policy, Western Economic Association International, vol. 25(4), pages 627-638, October.
  12. N. Edward Coulson & Michael L. Lahr, 2005. "Gracing the Land of Elvis and Beale Street: Historic Designation and Property Values in Memphis," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 33(3), pages 487-507, 09.
  13. Kerry D. Vandell & Jonathan S. Lane, 1989. "The Economics of Architecture and Urban Design: Some Preliminary Findings," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 17(2), pages 235-260.
  14. Gabriel Ahlfeldt, 2011. "If Alonso Was Right: Modeling Accessibility And Explaining The Residential Land Gradient," Journal of Regional Science, Wiley Blackwell, vol. 51(2), pages 318-338, 05.
  15. George Galster & Peter Tatian & Kathryn Pettit, 2004. "Supportive Housing and Neighborhood Property Value Externalities," Land Economics, University of Wisconsin Press, vol. 80(1), pages 33-54.
  16. Mingche M. Li & H. James Brown, 1980. "Micro-Neighborhood Externalities and Hedonic Housing Prices," Land Economics, University of Wisconsin Press, vol. 56(2), pages 125-141.
  17. Dennis Coates & Brad R. Humphreys, 2003. "Professional Sports Facilities, Franchises and Urban Economic Development," UMBC Economics Department Working Papers 03-103, UMBC Department of Economics.
  18. Gabriel M. Ahlfeldt & Wolfgang Maennig, 2010. "Substitutability and Complementarity of Urban Amenities: External Effects of Built Heritage in Berlin," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 38(2), pages 285-323.
  19. Coulson, N Edward & Leichenko, Robin M, 2001. "The Internal and External Impact of Historical Designation on Property Values," The Journal of Real Estate Finance and Economics, Springer, vol. 23(1), pages 113-24, July.
  20. Halvorsen, Robert & Palmquist, Raymond, 1980. "The Interpretation of Dummy Variables in Semilogarithmic Equations," American Economic Review, American Economic Association, vol. 70(3), pages 474-75, June.
  21. Carroll, Thomas M & Clauretie, Terrence M & Jensen, Jeff, 1996. "Living Next to Godliness: Residential Property Values and Churches," The Journal of Real Estate Finance and Economics, Springer, vol. 12(3), pages 319-30, May.
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