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...

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Publicado en:Urban Studies (Routledge) Vol. 41; no. 10; pp. 2025 - 2042
Autores principales: Kling, Robert W., Revier, Charles F., Sable, Karin
Formato: Artículo
Publicado: Taylor & Francis Ltd Sep2004
Materias:
Acceso en línea:Ver este registro en EBSCOhost
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      aug:
        au:
          Kling, Robert W.
          Revier, Charles F.
          Sable, Karin
        affil:
          Department of Economics, Colorado State University, Campus Box 1771, Fort Collins, Colorado 80523-1771, USA
          Center for Research on the Colorado Economy
          Department of Economics, University of Puget Sound, 1500 N. Warner St, Tacoma, Washington 98416 USA
      su:
        Natural monuments
        Landscape protection
        Preservation of architecture
        Cities & towns
        Urban studies
        Valuation
      sug:
        subj:
          Natural monuments
          Landscape protection
          Preservation of architecture
          Cities & towns
          Urban studies
          Valuation
      ab: 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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    language: English
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