Institutional Foundations of Heritage Railways: The High Cost of Low Trust in the Preservation of Merit Goods

Manuel Muriel

Journal of Economic Issues, 2017, vol. 51, issue 3, 663-687

Abstract: This article is an empirical inquiry into the nature and causes of the preservation and reuse of railway heritage from a comparative point of view. It addresses the question of why this heritage is not preserved in Andalusia (Spain). Railway heritage is a mixed good, as a public good requires either the public or the not-for-profit sector to intervene to ensure its preservation. In the case of a merit good, it is legitimate for the government to interfere with consumer preferences. The results suggest that three factors directly impact the preservation of railway heritage: (i) the quality of government, (ii) volunteering, and (iii) collective preferences. The first two factors depend on social capital as measured by generalized trust, while the third one is idiosyncratic.

Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:mes:jeciss:v:51:y:2017:i:3:p:663-687

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DOI: 10.1080/00213624.2017.1353875

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