Public preferences for heritage conservation strategies: a choice modelling approach

Throsby, David and Zednik, Anita ORCID: https://orcid.org/0000-0001-9830-2602 and Arana, Jorge (2021) Public preferences for heritage conservation strategies: a choice modelling approach. Journal of Cultural Economics. ISSN 1573-6997

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Abstract

Studies aiming at valuing cultural and natural heritage projects are often focussed on one or only a few sites, whereas planning decisions concerning the allocation of public funds to heritage conservation deal with classes of heritage rather than single sites. In addition, such planning decisions are almost always concerned with non-monetary values that need to be incorporated into assessment procedures if the total value of alternative strategies is to be estimated. In this paper, we put forward and estimate models to address both of these issues within a choice-modelling frame-work. The method is developed in the context of conservation of a particular class of cultural heritage, namely major historic buildings in a city or country. We report results from a discrete choice experiment to assess public preferences in which the choices are alternative conservation programs and the attributes are dimensions of the programs’ cultural and economic value. The model is estimated from survey data using several flexible econometric specifications. We show that the methods developed can be used to obtain robust estimates of the economic value of this category of buildings. We also find a significant contribution of all aspects of cultural value to the formation of conservation preferences and the public’s willingness to pay.

Item Type: Article
Additional Information: This research was funded by a grant from the Commonwealth Environment Research Facilities of the Australian Department of Environment, Water, Heritage and the Arts. The Grant was administered by the Australian National University, Contract No. 17162. Open Access funding provided by Vienna University of Economics and Business (WU).
Keywords: Heritage conservation, Public preferences, Choice experiments
Divisions: Departments > Strategy and Innovation > Markets and Strategy
Version of the Document: Published
Depositing User: Gertraud Novotny
Date Deposited: 11 Feb 2021 10:31
Last Modified: 16 Feb 2021 10:29
Related URLs:
FIDES Link: https://bach.wu.ac.at/d/research/results/98724/
URI: https://epub.wu.ac.at/id/eprint/7984

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