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CONTENTS
Project Appraisal in Practice Private Sector Participation Socially Optimal Preservation Rationale for Public Intervention Design of Cultural Component Distributional Effects and Property Rights Conclusion Note References
21 24 28 34 36 40 42 43 43
Chapter 3. Heritage Economics: A Conceptual Framework
45
David Throsby
Introduction Heritage as Asset Sustainability Value and Valuation Heritage Policy From Policy to Practice: Heritage in Economic Development Conclusion Notes References Chapter 4. Economic Valuation of Cultural Heritage
46 46 48 51 58 64 71 72 72 75
Peter Nijkamp
Introduction Economic Valuation of Cultural Heritage A Functional Perspective on the Value of Cultural Heritage Lessons from Cultural Heritage Valuation and Biodiversity Valuation The Economist’s Toolbox A Spatial Hedonic Price Study on the Impact of Cultural Heritage on Real Estate Value Conclusion Notes References Chapter 5. Heritage Conservation and Property Values
76 78 81 85 87 97 102 102 103 107
Donovan Rypkema
Introduction
108