This paper shows that the economic benefits of conserving the most threatened types of cultural heritage surpass the costs. Conservation is a sound investment. For a case study in the Netherlands three different benefits are calculated: a housing comfort value, a recreation value and a bequest value. The housing comfort value is determined through the Hedonic Pricing method (HPM). It is the first time that this monetarisation technique is used to express the value of cultural heritage in Euro's. The results show that historical characteristics of buildings and their surroundings account for almost 15% of property values. The recreation and bequest value are estimated by means of the more commonly used Contingent Valuation method (CVM).
Movie industry experts continuously debate whether the industry's enormous investments in stars pay off. Although a rich body of research has addressed the question of whether stars are critical to the success of movies, previous research does not provide a consistent picture of the impact of stars on the economic success of the respective product. To derive empirical generalizations, the authors (1) provide a meta-analysis of the relationship between star power and movie success based on 61 primary studies reporting 172 effects of star power on movie success and (2) analyze a comprehensive dataset from that industry with n = 1545 movies using two different types of star power measures (commercial and artistic success), while controlling for selection effects of stars. Based on these two studies, four empirical generalizations emerge. First, when ignoring selection effects of stars, the impact of star power on box office revenues is strongly upwards biased. Second, artistic star power is associated with significantly lower box office revenues than commercial star power. Third, on average, movies with a commercially successful star generate 12.46 million US$ additional box office revenues. In contrast, artistic star power does not result in a statistically significant revenue premium. Fourth, commercially (artistically) successful stars have a statistically significant “multiplier effect” of 1.127 (1.083) on other characteristics that influence a movie's box office revenues.
This article traces the development and changes in film politics in Norway from 1913 to 2013. With the Film Theatres Act of 1913, the government in Norway established a cultural law that has had wide-reaching consequences, and this law is still regulating important aspects of distribution and presentation of film in Norway. Initially film was only seen as a dangerous medium, and from 1920 an entertainment luxury that should be taxed, but after World War II the attitude of the government changed. Since 1950 all feature-length fiction films has received government support. The changes in attitude as well as in means of support of film from 1950 to today in Norway are discussed in this article.
Substitutability and complementarity of urban amenities: external effects of built heritage in Berlin
This article analyzes the impact of designated landmarks on condominium transaction prices in Berlin, Germany. We test for price differentials between listed and nonlisted properties and study their impact on surrounding property prices. The proximity to built heritage is captured by the distance to listed houses and heritage potentiality indicators. Impact is assessed by applying a hedonic model to microlevel data, and this process also addresses spatial dependency. While our findings suggest that designated landmarks do not sell at a premium or discount, landmarks are found to have positive external effects on surrounding property prices within a distance of approximately 600 m.
Despite growing attention by researchers and policy makers on the economic value of cultural heritage sites, debate surrounds the use of adequate methods. Although choice modeling techniques have been applied widely in the environmental economics field, their application in tourism and cultural economics has been much more limited. This paper contributes to the knowledge on the economic valuation of cultural heritage sites through a national choice modeling study of Old Parliament House, Australia. The study sought to value marginal changes in several attributes of this site and revealed that only some of them are valued positively: extending the period of temporary exhibitions, hosting various events, and having ‘shop and café’ and ‘fine dining’. Advantages of using a mixed logit model are provided and managerial and policy implications are discussed.
Vi giver i denne rapport for første gang en samlet oversigt over den viden, der eksisterer i dag om bygningsarvens værdi opgjort i kroner. Alle de væsentlige effekter som litteraturen peger på, samler vi, og vi udreder hvordan, de påvirker hinanden i en value map. Det giver et overblik over alle de måder bygningsarven skaber værdi.
Kulturarven kan være med på å utløse verdiskaping i form av næringsutvikling. Dette kan enten skje direkte, gjennom at virksomheter baseres på et kulturminne, kulturmiljø eller tradisjonsbåren kunnskap, eller indirekte gjennom at bevisst satsing på (lokal) kulturarv kan bidra til å gjøre en kommune eller et sted mer attraktivt både å bo i og å etablere næringsvirksomhet i. I Møllebyen i Moss og kommunene Levanger, Inderøy og Verdal har man i variert omfang lykkes i å kombinere næringsutvikling og vern. Eksemplene viser at langsiktig og sikker finansiering, formell forankring spesielt på kommunal nivå, lokalt og bredt engasjement og et velfungerende samarbeid mellom alle berørte parter er viktige faktorer for at satsingen skal lykkes.
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