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Measuring the Economic and Cultural Values of Historic Heritage Places

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  • Throsby, David
  • Deodhar, Vinita
  • Hanna, Bronwyn
  • Jewell, Bronwyn
  • O’Connor, Zena
  • Zednik, Anita

Abstract

This research project on the valuation of cultural heritage is developing a methodology for a quantitative valuation study of the use and non-use values of historic heritage places. The methodology developed in this project will provide a template for subsequent empirical applications to generate data of use in the formulation of heritage policies and programs. The initial stages in reaching this larger objective have involved determining how historic heritage places are to be categorised for measurement, establishing the process by which heritage attributes will be determined for valuation, and developing and trialling an effective measurement framework. The principal techniques being developed for valuation assessment in the project are derived from choice-modelling (CM) and contingent-valuation methods (CVM). A particular focus of the project is on the systematic integration of cultural and economic value assessments within a consistent theoretical framework, reflecting the need for an economic perspective on the significance criteria currently in use in heritage policy in Australia.

Suggested Citation

  • Throsby, David & Deodhar, Vinita & Hanna, Bronwyn & Jewell, Bronwyn & O’Connor, Zena & Zednik, Anita, 2010. "Measuring the Economic and Cultural Values of Historic Heritage Places," Research Reports 107584, Australian National University, Environmental Economics Research Hub.
    • Handle: RePEc:ags:eerhrr:107584
    DOI: 10.22004/ag.econ.107584
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    References listed on IDEAS

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    1. Victor Ginsburgh & David Throsby, 2006. "Handbook of the economics of art and culture," ULB Institutional Repository 2013/1673, ULB -- Universite Libre de Bruxelles.
    2. Rizzo, Ilde & Throsby, David, 2006. "Cultural Heritage: Economic Analysis and Public Policy," Handbook of the Economics of Art and Culture, in: V.A. Ginsburgh & D. Throsby (ed.), Handbook of the Economics of Art and Culture, edition 1, volume 1, chapter 28, pages 983-1016, Elsevier.
    3. V.A. Ginsburgh & D. Throsby (ed.), 2006. "Handbook of the Economics of Art and Culture," Handbook of the Economics of Art and Culture, Elsevier, edition 1, volume 1, number 1, December.
    4. Ståle Navrud & Richard C. Ready (ed.), 2002. "Valuing Cultural Heritage," Books, Edward Elgar Publishing, number 1759.
    5. Choi, Andy S. & Ritchie, Brent W. & Papandrea, Franco & Bennett, Jeff, 2010. "Economic valuation of cultural heritage sites: A choice modeling approach," Tourism Management, Elsevier, vol. 31(2), pages 213-220.
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    Community/Rural/Urban Development; Environmental Economics and Policy;

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