Does the housing market reflect cultural heritage? A case study of Greater Dublin

Environment and Planning A

Volumn 45, Issue 12, 2013, Pages 2884-2903

  Moro, Mirko ^a,b   Mayor, Karen ^b,c   Lyons, Seán ^b,c   Tol, Richard S J ^d,e  

^a UNIVERSITY OF STIRLING   (United Kingdom)

^b ECONOMIC AND SOCIAL RESEARCH INSTITUTE   (Ireland)

^c TRINITY COLLEGE DUBLIN   (Ireland)

^d UNIVERSITY OF SUSSEX   (United Kingdom)

^e INSTITUTE FOR ENVIRONMENTAL STUDIES   (Netherlands)

Author keywords

Cultural economics; Cultural heritage; Hedonic price; Hedonic regression; Ireland; Nonmarket valuation

Indexed keywords

CULTURAL HERITAGE; HEDONIC ANALYSIS; HOUSING MARKET; HOUSING PROVISION; PRICE DETERMINATION; PRICE DYNAMICS; SPILLOVER EFFECT;

COUNTY DUBLIN; DUBLIN [COUNTY DUBLIN]; IRELAND; LEINSTER;

EID: 84890380768     PISSN: 0308518X     EISSN: 14723409     Source Type: Journal    
DOI: 10.1068/a45524     Document Type: Article

References (47)

1. Abbing H, 1980, "On the rationale of public support to the arts: externalities in the arts revisited", in Economic Policy for the Arts Ed. W S Hendon (Abt Books, Cambridge, MA) pp 34-42
2. Ahlfeldt G M, Maennig W, 2010, "Substitutability and complementarity of urban amenities: external effects of built heritage in Berlin" Real Estate Economics 38 285-323
3. Ahlfeldt G, Mastro A, 2012, "Valuing iconic design: Frank Lloyd Wright architecture in Oak Park, Illinois" Housing Studies forthcoming
4. Alberini A, Longo A, 2006, "Combining the travel cost and contingent behavior methods to value cultural heritage sites in a transition economy: evidence from Armenia" Journal of Cultural Economics 30 287-304
5. Alberini A, Longo A, 2009, "Valuing the cultural monuments of Armenia: Bayesian updating of prior beliefs in contingent valuation" Environment and Planning A 41 441-460
6. Asabere P K, Huffman F E, 1994, "The value discounts associated with historic facade easements" The Appraisal Journal 62 270-277
7. Bateman I, Carson R T B D, Hanemann M, Hanley N, Hett T, Jones-Lee M, Loomes G, Mourato S, Ozdemiroglu E, Pearce D W, Sugden R, Swanson J, 2002 Economic Valuation With Stated Preference Techniques (Edward Elgar, Cheltenham, Glos)
8. Bedate A, Herrero L, Sanz J, 2004, "Economic valuation of the cultural heritage: application to four case studies in Spain" Journal of Cultural Heritage 5(1) 101-111
9. Behrer P, 2010, "Building in the mountains: a hedonic analysis of the value of degraded mountain views using GIS modeling", DP 2009-15, Harvard Environmental Economics Program, Harvard University, Cambridge, MA
10. Bille T, Schulze G, 2006, "Culture in urban and regional development", in Handbook of the Economics of Art and Culture Eds V Ginsburgh, D Throsby (North Holland, Amsterdam) pp 1051-1099
11. Boter J, Rouwendal J, Wedel M, 2005, "Employing travel time to compare the value of competing cultural organizations" Journal of Cultural Economics 29 19-33
12. Brown J, 2004 Economic Values and Cultural Heritage Conservation: Assessing the Use of Stated Preference Techniques for Measuring Changes in Visitor Welfare PhD thesis, Imperial College London
13. Carroll T M, Clauretie T M, Jensen J, 1996, "Living next to godliness: residential property values and churches" Journal of Real Estate Finance and Economics 12 319-330
14. Champ P A, Boyle K J, Brown T C, 2003 A Primer on Nonmarket Valuation (Kluwer Academic, Boston, MA)
15. Clark D E, Kahn J R, 1988, "The social benefits of urban cultural amenities" Journal of Regional Science 28 363-377
16. Coulson N E, Leichenko R M, 2001, "The internal and external impact of historical designation on property values" The Journal of Real Estate Finance and Economics 23 113-124
17. Del Saz Salazar S, Marques M, 2005, "Valuing cultural heritage: the social benefit of restoring an old Arab tower" Journal of Cultural Heritage 6 69-77
18. Department of Environment, Heritage and Local Government, 2009 National Monuments in State Care: Ownership and Guardianship Dublin
19. Falck O, Fritsch M, Heblich S, 2011, "The phantom of the opera: cultural amenities, human capital, and regional economic growth" Labour Economics 18 755-766
20. Florida R, 2002 The Rise of the Creative Class (Basic Books, New York)
21. Forrest D, Grime K, Woods R, 2000, "Is it worth subsidizing regional repertory theatre?" Oxford Economic Papers 52 381-397
22. Frey B S, 2003 Arts and Economics: Analysis and Cultural Policy (Springer, Berlin)
23. Lazrak F, Nijkamp P, Rietveld P, Rouwendal J, 2009, "Cultural heritage: hedonic prices for non-market values", Department of Spatial Economics, VU University Amsterdam
24. Lazrak F, Nijkamp P, Rietveld P, Rouwendal J, 2010, "The market value of listed heritage: an urban economic application of spatial hedonic pricing", working paper, Department of Spatial Economics, VU University Amsterdam
25. Leichenko R M, Coulson N E, Listokin D, 2001, "Historic preservation and residential property values: an analysis of Texas cities" Urban Studies 38 1973-1987
26. Maddison D, Foster T, 2003, "Valuing congestion costs in the British Museum" Oxford Economic Papers 55 173-190
27. Martin F, 1994, "Determining the size of museum subsidies" Journal of Cultural Economics 18 255-270
28. Mayor K, Lyons S, Duffy D, Tol R S J, 2012, "A hedonic analysis of the value of rail transport in the Greater Dublin area" Journal of Transport Economics and Policy 46 239-261
29. Moro M, Lyons S, Mayor K, Tol R J, 2011, "Do housing markets reflect cultural heritage?", WP 386, Economic and Social Research Institute, Dublin
30. Moulton B R, 1990, "An illustration of a pitfall in estimating the effects of aggregate variables on micro units" Review of Economics and Statistics 72 334-338
31. Mourato S, Ozdemiroglu E, Hett T, Atkinson G, 2004, "Pricing cultural heritage: a new approach to managing ancient resources" World Economics 5(3) 1-19
32. Narwold A, Sandy J, Tu C, 2008, "Historic designation and residential property values" International Real Estate Review 11 83-95
33. Navrud S, Ready R C, 2002 Valuing Cultural Heritage: Applying Environmental Valuation Techniques to Historic Buildings, Monuments and Artefacts (Edward Elgar, Cheltenham, Glos)
34. Noonan D S, 2007, "Finding an impact of preservation policies: price effects of historic landmarks on attached homes in Chicago, 1990-1999" Economic Development Quarterly 21 17-33
35. Noonan D S, Krupka D J, 2011, " Making-or picking-winners: evidence of internal and external price effects in historic preservation policies" Real Estate Economics 39 379-407
36. Nourse H, 1967, "The effect of air pollution on house values" Land Economics 43 181-89
37. Pearce D, Mourato S, Navrud S, Ready R C, 2002, "Review of existing studies, their policy use and future research needs", in Valuing Cultural Heritage: Applying Environmental Valuation Techniques to Historic Buildings Monuments and Artefacts Eds S Navrud, R C Ready (Edward Elgar, Cheltenham, Glos) pp 257-270
38. Poor P J, Smith J M, 2004, "Travel cost analysis of a cultural heritage site: the case of historic St. Mary's City of Maryland" Journal of Cultural Economics 28 217-229
39. Ridker R G, Henning J A, 1967, "The determinants of residential property values with special reference to air pollution" The Review of Economics and Statistics 49 246-257
40. Rolfe J, Windle J, 2003, "Valuing the protection of aboriginal cultural heritage sites" Economic Record 79 S85-S95
41. Rosen S, 1974, "Hedonic prices and implicit markets: product differentiation in pure competition" Journal of Political Economy 82 34-55
42. Ruijgrok E C M, 2006, "The three economic values of cultural heritage: a case study in the Netherlands", Journal of Cultural Heritage 7 206-213
43. Snowball J, 2008 Measuring the Value of Culture (Springer, Berlin)
44. Snowball J D, Willis K G, 2006, "Estimating the marginal utility of different sections of an arts festival: the case of visitors to the South African National Arts Festival" Leisure Studies 25(1) 43-56
45. Tuan T H, Navrud S, 2008, "Capturing the benefits of preserving cultural heritage" Journal of Cultural Heritage 9 326-337
46. Whitehead J, Finney S, 2003, "Willingness to pay for submerged maritime cultural resources" Journal of Cultural Economics 27 231-240
47. Williams R L, 2000, "A note on robust variance estimation for cluster-correlated data" Biometrics 56 645-646