Determinants of Historic and Cultural Landmark Designation: Why We Preserve What We Preserve
There 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.
|Date of creation:||Oct 2008|
|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
|Order Information:|| Postal: IZA, Margard Ody, P.O. Box 7240, D-53072 Bonn, Germany|
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.:
- Douglas S. Noonan, 2007. "Finding an Impact of Preservation Policies: Price Effects of Historic Landmarks on Attached Homes in Chicago, 1990-1999," Economic Development Quarterly, W.E. Upjohn Institute for Employment Research, vol. 21(1), pages 17-33, February.
- 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;The Association for Cultural Economics International, vol. 30(4), pages 287-304, December.
- N. Edward Coulson & Robin M. Leichenko, 2004. "Historic Preservation and Neighbourhood Change," Urban Studies, Urban Studies Journal Limited, vol. 41(8), pages 1587-1600, July.
- 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 113-124, July.
- 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.
- 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.
- 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.
- Heilbrun,James & Gray,Charles M., 2001. "The Economics of Art and Culture," Cambridge Books, Cambridge University Press, number 9780521637121, May.
When requesting a correction, please mention this item's handle: RePEc:iza:izadps:dp3777. See general information about how to correct material in RePEc.
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.