The Evaluation of Cultural Heritage: Some Critical Issues

Bruno Frey

Chapter 3 in Economic Perspectives on Cultural Heritage, 1997, pp 31-49 from Palgrave Macmillan

Abstract: Abstract Decisions on preserving art objects and art institutions are continually taken by governments and public administrations. Preservation implies maintaining the stock and hindering its dilapidation and worsening. Keeping up the stock creates opportunity cost as the resources involved (labour and material inputs, and in the case of historic monuments especially the sites) could be used for alternative purposes. Current funds are needed to repair and safeguard the objects. In order to take these decisions rationally an evaluation of the value of the cultural heritage (compared with relevant alternatives) is required.

Keywords: Cultural Heritage; Economic Perspective; Contingent Valuation; Contingent Valuation Method; Endowment Effect (search for similar items in EconPapers)
Date: 1997
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DOI: 10.1007/978-1-349-25824-6_3

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