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Game of zones: the political economy of conservation areas

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  • Ahlfeldt, Gabriel M.
  • Möller, Kristoffer
  • Waights, Sevrin
  • Wendland, Nicolai

Abstract

We develop and test a simple theory of the conservation area designation process in which we postulate that the level of designation is chosen to comply with interests of local homeowners. Conservation areas provide benefits to local homeowners by reducing uncertainty regarding the future of their area. At the same time, the restrictions impose a cost by limiting the degree to which properties can be altered. In line with our model predictions we find that an increase in preferences for historic character by the local population increases the likelihood of a designation, and that new designations at the margin are not associated with significant house price capitalisation effects.

Suggested Citation

  • Ahlfeldt, Gabriel M. & Möller, Kristoffer & Waights, Sevrin & Wendland, Nicolai, 2017. "Game of zones: the political economy of conservation areas," LSE Research Online Documents on Economics 66244, London School of Economics and Political Science, LSE Library.
    • Handle: RePEc:ehl:lserod:66244
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    File URL: http://eprints.lse.ac.uk/66244/
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    References listed on IDEAS

    as
    1. Gibbons, Stephen & Machin, Stephen, 2005. "Valuing rail access using transport innovations," Journal of Urban Economics, Elsevier, vol. 57(1), pages 148-169, January.
    2. 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, May.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    designation; difference-in-difference; England; gentrification; heritage; property value;
    All these keywords.

    JEL classification:

    • H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
    • H31 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - Household
    • R40 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - General
    • R58 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Regional Development Planning and Policy

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