Estimating the public good value of preserving a local historic landmark: the role of non-substitutability and citizen information.
This study applies stated-preference methods to estimate the public good values of preservation and restoration of a local historic landmark in a medium-sized US city. The survey device centres on a referendum-style dichotomous-choice question regarding city participation in a restoration partnershi...
| Publicado en: | Urban Studies (Routledge) Vol. 41; no. 10; pp. 2025 - 2042 |
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| Autores principales: | , , |
| Formato: | Artículo |
| Publicado: |
Taylor & Francis Ltd
Sep2004
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| Materias: | |
| Acceso en línea: | Ver este registro en EBSCOhost |
| Sumario: | This study applies stated-preference methods to estimate the public good values of preservation and restoration of a local historic landmark in a medium-sized US city. The survey device centres on a referendum-style dichotomous-choice question regarding city participation in a restoration partnership. Use of a double-split sample allows analysis of the effect on valuation of both heritage information and willingness-to-pay versus willingness-to-accept constructs, where the latter is approached by the method of paired comparison, allowing a non-substitutability effect to be separated from any endowment effect. Econometric analysis using a standard binary logit model indicates the existence of a strong non-substitutability effect and a significant information effect that further suggests the importance of non-substitutability in valuation. |
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