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Architektur, Ökonomie – Architekturökonomie

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  • Gabriel M. Ahlfeldt

Abstract

This article discusses the provision of sophisticated architecture from the perspective of welfare economics. Given that rational real estate investors do not take into account the external effects of building design quality on the neighborhood, there is a risk of underinvestment into the external appearance of buildings in the market equilibrium. Whether public interventions as well as recent attempts to promote urban economic development by architectural landmark projects are justified, however, essentially depends on the existence of significant spillovers. On this background, we discuss evidence on architectural externalities available for Berlin, Germany and provide fist estimates of aggregated external benefits.

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  • Gabriel M. Ahlfeldt, 2010. "Architektur, Ökonomie – Architekturökonomie," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 11(4), pages 340-355, November.
    • Handle: RePEc:bla:perwir:v:11:y:2010:i:4:p:340-355
    DOI: 10.1111/j.1468-2516.2010.00343.x
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    1. Gabriel Ahlfeldt & Wolfgang Maennig, 2010. "Impact of sports arenas on land values: evidence from Berlin," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 44(2), pages 205-227, April.
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    12. Gabriel Ahlfeldt, 2011. "If Alonso Was Right: Modeling Accessibility And Explaining The Residential Land Gradient," Journal of Regional Science, Wiley Blackwell, vol. 51(2), pages 318-338, May.
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    17. 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, June.
    18. Asabere, Paul K & Hachey, George & Grubaugh, Steven, 1989. "Architecture, Historic Zoning, and the Value of Homes," The Journal of Real Estate Finance and Economics, Springer, vol. 2(3), pages 181-195, September.
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    24. Kerry D. Vandell & Jonathan S. Lane, 1989. "The Economics of Architecture and Urban Design: Some Preliminary Findings," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 17(2), pages 235-260, June.
    25. Gabriel Ahlfeldt & Wolfgang Maennig, 2009. "Arenas, Arena Architecture and the Impact on Location Desirability: The Case of `Olympic Arenas' in Prenzlauer Berg, Berlin," Urban Studies, Urban Studies Journal Limited, vol. 46(7), pages 1343-1362, June.
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