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.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
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:
Contact details of provider:
Postal: IZA, P.O. Box 7240, D-53072 Bonn, Germany
Phone: +49 228 3894 223
Fax: +49 228 3894 180
Web page: http://www.iza.org
Postal: IZA, Margard Ody, P.O. Box 7240, D-53072 Bonn, Germany
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)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- 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.
- 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.
- Alberto Longo & Anna Alberini, 2006.
"What are the effects of contamination risks on commercial and industrial properties? evidence from Baltimore, Maryland,"
Journal of Environmental Planning and Management,
Taylor & Francis Journals, vol. 49(5), pages 713-737.
- Alberto Longo & Anna Alberini, 2005. "What are the Effects of Contamination Risks on Commercial and Industrial Properties? Evidence from Baltimore, Maryland," Working Papers 2005.111, Fondazione Eni Enrico Mattei.
- John Whitehead & Suzanne Finney, 2003. "Willingness to Pay for Submerged Maritime Cultural Resources," Journal of Cultural Economics, Springer, vol. 27(3), pages 231-240, November.
- Geoffrey K. Turnbull, 2002. "Land Development under the Threat of Taking," Southern Economic Journal, Southern Economic Association, vol. 69(2), pages 290-308, October.
- Heilbrun,James & Gray,Charles M., 2001. "The Economics of Art and Culture," Cambridge Books, Cambridge University Press, number 9780521637121, December.
- Andrew Metrick & Martin L. Weitzman, 1998.
"Conflicts and Choices in Biodiversity Preservation,"
Journal of Economic Perspectives,
American Economic Association, vol. 12(3), pages 21-34, Summer.
- Andrew Metrick & Martin L. Weitzman, 1998. "Conflicts and Choices in Biodiversity Preservation," Harvard Institute of Economic Research Working Papers 1836, Harvard - Institute of Economic Research.
- 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.
- Philippe Cyrenne & Robert Fenton & Joseph Warbanski, 2006. "Historic Buildings and Rehabilitation Expenditures: A Panel Data Approach," Journal of Real Estate Research, American Real Estate Society, vol. 28(4), pages 349-380.
- Anna Alberini & Alberto Longo, 2006. "Combining the travel cost and contingent behavior methods to value cultural heritage sites: Evidence from Armenia," Journal of Cultural Economics, Springer, vol. 30(4), pages 287-304, December.
- Noonan, Douglas S. & Krupka, Douglas J., 2009.
"Making – or Picking – Winners: Evidence of Internal and External Price Effects in Historic Preservation Policies,"
IZA Discussion Papers
4110, Institute for the Study of Labor (IZA).
- Douglas S. Noonan & Douglas J. Krupka, 2011. "Making—or Picking—Winners: Evidence of Internal and External Price Effects in Historic Preservation Policies," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 39(2), pages 379-407, 06.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Mark Fallak).
If references are entirely missing, you can add them using this form.