Determinants of Historic and Cultural Landmark Designation: Why We Preserve What We Preserve
AbstractThere is much interest among cultural economists in assessing the effects of heritage preservation policies. There has been less interest in modeling the policy choices made in historic and cultural landmark preservation. This paper builds an economic model of a landmark designation that highlights the tensions between the interests of owners of cultural amenities and the interests of the neighboring community. We perform empirical tests by estimating a discrete choice model for landmark preservation using data from Chicago, combining the Chicago Historical Resources Survey of over 17,000 historic structures with property sales, Census, and other geographic data. The data allow us to explain why some properties were designated landmarks (or landmark districts) and others were not. The results identify the influence of property characteristics, local socio-economic factors, and measures of historic and cultural quality. The results emphasize the political economy of implementing preservation policies.
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Bibliographic InfoPaper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 3777.
Length: 41 pages
Date of creation: Oct 2008
Date of revision:
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Other versions of this item:
- Douglas Noonan & Douglas Krupka, 2010. "Determinants of historic and cultural landmark designation: why we preserve what we preserve," Journal of Cultural Economics, Springer, vol. 34(1), pages 1-26, February.
- Z1 - Other Special Topics - - Cultural Economics
- R52 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Land Use and Other Regulations
- D78 - Microeconomics - - Analysis of Collective Decision-Making - - - Positive Analysis of Policy Formulation and Implementation
This paper has been announced in the following NEP Reports:
- NEP-ALL-2008-11-11 (All new papers)
- NEP-CUL-2008-11-11 (Cultural Economics)
- NEP-URE-2008-11-11 (Urban & Real Estate Economics)
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