Valuing Cultural Heritage – Lessons Learned
Author(s)
S. Navrud
Abstract
Cultural heritage typically concerns public goods, and therefore non-market
valuation techniques need to be applied to estimate the social benefits of these
goods. While there have been several thousands of applications of these
techniques to value changes in environmental quality and natural resources,
empirical applications of these techniques to cultural heritage are still scarce. The
main lessons from a review of 27 valuation studies suggest that we experience
the same problems and challenges as in the environmental valuation studies.
Some of the studies were conducted to inform policy decisions, and have proved
useful in cost-benefit analyses of restoration and preservation programs for
cultural heritage, as well as infrastructure projects and air pollution policies with
impacts on cultural heritage. The information generated by such studies can be a
valuable complement to expert judgement. We would like to see new valuation
studies designed to address specific policy problems, rather than provide general
values for the goods.
Keywords: cultural heritage, non-market valuation, contingent valuation,
benefit transfer, cost-benefit analysis.
1 Introduction
What is the economic value of preserving our cultural heritage? Do the social
benefits of preserving cultural heritage like e.g. historical cities outweigh the
costs of restoration and preservation? Should we allocate more resources to
restore and preserve cultural heritage due to the large social benefits observed in
the few existing studies that try to value these goods? These are some of the
questions that can be answered by applying techniques originally developed to
value environmental goods to value cultural goods.
Keywords
cultural heritage, non-market valuation, contingent valuation,
benefit transfer, cost-benefit analysis.
Related Book
Other papers in this volume
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