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Cultural Heritage

In: Economics of Art and Culture

Author

Listed:
  • Bruno S. Frey

    (University of Basel)

Abstract

Cultural heritage is composed of built, moveable, intangible, and natural objects. Only a small proportion of their benefits are reflected in monetary form, but these are positive externalities. Not everything can be preserved, because this would block the further development of cities and regions. Many heritage goods have the property of a public good; people not paying a fee cannot be excluded from consumption. If the measured total benefits are superior to the total cost involved in keeping up a heritage object, a society is better off preserving it.

Suggested Citation

  • Bruno S. Frey, 2019. "Cultural Heritage," SpringerBriefs in Economics, in: Economics of Art and Culture, chapter 0, pages 97-102, Springer.
    • Handle: RePEc:spr:spbchp:978-3-030-15748-7_12
    DOI: 10.1007/978-3-030-15748-7_12
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