IDEAS home Printed from https://ideas.repec.org/a/taf/jenpmg/v52y2009i1p97-109.html
   My bibliography  Save this article

The valuation of historical sites: a case study of Valdivia, Chile

Author

Listed:
  • Andrea Baez Montenegro
  • Mario Niklitschek Huaquin
  • Luis Herrero Prieto

Abstract

The economic valuation of cultural heritage is an area of increasing interest and an important research topic in the emerging field of cultural economics. Many services and values associated with cultural heritage are not traded in markets, and their estimation requires methods developed for the valuation of non-market goods, such as those used in environmental economics. This paper applies the contingent valuation method with double dichotomous choice to estimate the value of historical sites in the city of Valdivia, Chile. The valuation exercise was implemented by designing a hypothetical guided walking tour to a cluster of historical sites in the city centre, and surveying tourists visiting the city during the summer of 2004. Parametric and non-parametric statistical methods were used to estimate the survival distribution and the mean and median estimates of the willingness-to-pay (WTP). The study emphasizes the importance of explicitly treating heterogeneous preferences and the sensitivity of the survival distribution to the estimation methods used.

Suggested Citation

  • Andrea Baez Montenegro & Mario Niklitschek Huaquin & Luis Herrero Prieto, 2009. "The valuation of historical sites: a case study of Valdivia, Chile," Journal of Environmental Planning and Management, Taylor & Francis Journals, vol. 52(1), pages 97-109.
    • Handle: RePEc:taf:jenpmg:v:52:y:2009:i:1:p:97-109
    DOI: 10.1080/09640560802504696
    as

    Download full text from publisher

    File URL: http://www.tandfonline.com/doi/abs/10.1080/09640560802504696
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/09640560802504696?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. IIde Rizzo & Ruth Towse (ed.), 2002. "The Economics of Heritage," Books, Edward Elgar Publishing, number 2770.
    2. H. Spencer Banzhaf & Dallas Burtraw & David Evans & Alan Krupnick, 2006. "Valuation of Natural Resource Improvements in the Adirondacks," Land Economics, University of Wisconsin Press, vol. 82(3), pages 445-464.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Amitrajeet A Batabyal & Hamid Beladi, 2010. "A stochastic model of the provision of guided tours to tourists," Economics Bulletin, AccessEcon, vol. 30(1), pages 577-586.
    2. Luis César Herrero & José ángel Sanz & María Devesa, 2011. "Measuring the Economic Value and Social Viability of a Cultural Festival as a Tourism Prototype," Tourism Economics, , vol. 17(3), pages 639-653, June.
    3. repec:ebl:ecbull:v:30:y:2010:i:1:p:577-586 is not listed on IDEAS
    4. Halkos, George, 2012. "The use of contingent valuation in assessing marine and coastal ecosystems’ water quality: A review," MPRA Paper 42183, University Library of Munich, Germany.
    5. Batabyal, Amitrajeet A. & Beladi, Hamid, 2011. "An alternate approach to modeling the slack season provision of guided tours to tourists," Tourism Management, Elsevier, vol. 32(5), pages 1047-1049.
    6. Douglas S. Noonan, 2013. "Market effects of historic preservation," Chapters, in: Ilde Rizzo & Anna Mignosa (ed.), Handbook on the Economics of Cultural Heritage, chapter 17, pages i-i, Edward Elgar Publishing.
    7. Spencer, Daniel M. & Nsiah, Christian, 2013. "The economic consequences of community support for tourism: A case study of a heritage fish hatchery," Tourism Management, Elsevier, vol. 34(C), pages 221-230.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ilde Rizzo & Anna Mignosa (ed.), 2013. "Handbook on the Economics of Cultural Heritage," Books, Edward Elgar Publishing, number 14326.
    2. Bruno S. Frey & Paolo Pamini & Lasse Steiner, 2011. "What Determines The World Heritage List? An Econometric Analysis," CREMA Working Paper Series 2011-01, Center for Research in Economics, Management and the Arts (CREMA).
    3. Guccio, C. & Lisi, D. & Martorana, M.F. & Pignataro, G., 2020. "Incorporating quality in the efficiency assessment of hospitals using a generalized directional distance function approach," Health, Econometrics and Data Group (HEDG) Working Papers 20/17, HEDG, c/o Department of Economics, University of York.
    4. Kevin J. Boyle & Mark Morrison & Darla Hatton MacDonald & Roderick Duncan & John Rose, 2016. "Investigating Internet and Mail Implementation of Stated-Preference Surveys While Controlling for Differences in Sample Frames," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 64(3), pages 401-419, July.
    5. Bruno S. Frey & Lasse Steiner, 2013. "World Heritage List," Chapters, in: Ilde Rizzo & Anna Mignosa (ed.), Handbook on the Economics of Cultural Heritage, chapter 8, pages i-i, Edward Elgar Publishing.
    6. Tiziana Cuccia, 2011. "Contingent Valuation," Chapters, in: Ruth Towse (ed.), A Handbook of Cultural Economics, Second Edition, chapter 13, Edward Elgar Publishing.
    7. Jared C. Carbone & V. Kerry Smith, 2010. "Valuing ecosystem services in general equilibrium," NBER Working Papers 15844, National Bureau of Economic Research, Inc.
    8. Guccio, Calogero & Martorana, Marco & Mazza, Isidoro & Pignataro, Giacomo & Rizzo, Ilde, 2020. "An assessment of the performance of Italian public historical archives: Preservation vs utilisation," Journal of Policy Modeling, Elsevier, vol. 42(6), pages 1270-1286.
    9. Richard Schmalensee & Robert N. Stavins, 2017. "Lessons Learned from Three Decades of Experience with Cap and Trade," Review of Environmental Economics and Policy, Association of Environmental and Resource Economists, vol. 11(1), pages 59-79.
    10. Tuttle, Carrie M. & Heintzelman, Martin D., 2015. "A loon on every lake: A hedonic analysis of lake water quality in the Adirondacks," Resource and Energy Economics, Elsevier, vol. 39(C), pages 1-15.
    11. Kiriaki M. Keramitsoglou & Katja Lozar Manfreda & Charalampia Anastasiou & Knut Kalgraff Skjak & Konstantinos P. Tsagarakis, 2018. "Mode comparison study on willingness to buy and willingness to pay for organic foods: paper-and-pencil versus computerized questionnaire," Electronic Commerce Research, Springer, vol. 18(3), pages 587-603, September.
    12. Lindhjem, Henrik & Navrud, Ståle, 2008. "Asking for Individual or Household Willingness to Pay for Environmental Goods? Implication for aggregate welfare measures," MPRA Paper 11469, University Library of Munich, Germany.
    13. Gómez Vega, Mafalda & Herrero Prieto, Luis César, 2017. "Determinantes de la eficiencia en la captación de turismo cultural nacional y extranjero en España: Un análisis regional/Drivers of Efficiency in Attracting Domestic and Foreign Cultural Tourism to Sp," Estudios de Economia Aplicada, Estudios de Economia Aplicada, vol. 35, pages 849-872, Agosto.
    14. Siikamaki, Juha & Layton, David F., 2007. "Discrete choice survey experiments: A comparison using flexible methods," Journal of Environmental Economics and Management, Elsevier, vol. 53(1), pages 122-139, January.
    15. John C. Whitehead & Andrew Ropicki & John Loomis & Sherry Larkin & Tim Haab & Sergio Alvarez, 2023. "Estimating the benefits to Florida households from avoiding another Gulf oil spill using the contingent valuation method: Internal validity tests with probability‐based and opt‐in samples," Applied Economic Perspectives and Policy, John Wiley & Sons, vol. 45(2), pages 705-720, June.
    16. Lindhjem, Henrik & Navrud, Ståle, 2008. "Internet CV surveys – a cheap, fast way to get large samples of biased values?," MPRA Paper 11471, University Library of Munich, Germany.
    17. Giacomo Pignataro, 2011. "Performance Indicators," Chapters, in: Ruth Towse (ed.), A Handbook of Cultural Economics, Second Edition, chapter 46, Edward Elgar Publishing.
    18. Whitehead, John C., 2016. "Plausible responsiveness to scope in contingent valuation," Ecological Economics, Elsevier, vol. 128(C), pages 17-22.
    19. Bruno S. Frey & Paolo Pamini, 2009. "World Heritage: Where Are We? An Empirical Analysis," CREMA Working Paper Series 2009-31, Center for Research in Economics, Management and the Arts (CREMA).
    20. Stowe, Robert C & Stavins, Robert Norman & Chan, Gabriel Angelo & Sweeney, Richard Leonard, 2012. "The SO2 Allowance Trading System and the Clean Air Act Amendments of 1990: Reflections on Twenty Years of Policy Innovation," Scholarly Articles 8160721, Harvard Kennedy School of Government.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:jenpmg:v:52:y:2009:i:1:p:97-109. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/CJEP20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.