Determinants of historic and cultural landmark designation: why we preserve what we preserve |
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Authors: | Douglas S Noonan Douglas J Krupka |
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Institution: | (1) School of Public Policy, Georgia Institute of Technology, Atlanta, GA 30332-0345, USA;(2) University of Michigan and IZA, Ann Arbor, MI 48104-2210, USA |
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Abstract: | There is much interest among cultural economists in assessing the effects of heritage preservation policies. There has been
less interest in modeling the policy choices made in historic and cultural landmark preservation. This article builds an economic
model of a landmark designation that highlights the tensions between the interests of owners of cultural amenities and the
interests of the neighboring community. We perform empirical tests by estimating a discrete choice model for landmark preservation
using data from Chicago, combining the Chicago Historical Resources Survey of over 17,000 historic structures with property
sales, Census, and other geographic data. The data allow us to explain why some properties were designated landmarks (or landmark
districts) and others were not. The results identify the influence of property characteristics, local socio-economic factors,
and measures of historic and cultural quality. The results emphasize the political economy of implementing preservation policies. |
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Keywords: | |
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