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International Journal of Cultural Property, Vol. 6 (June 1997), pp. 231-246, doi:10.1017/s0940739197000313 Key: citeulike:11894087
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The preservation of cultural heritage is costly and one has to decide if and which items of cultural heritage are worth preserving. A method for determining the value of cultural heritage is therefore needed. In economics, several evaluation procedures are applied. This article briefly comments on impact studies and willingness- to-pay studies (hedonic market approach and the travel cost approach) and then focuses on contingent valuation surveys. The application of contingent valuation on the arts and related problems are discussed. Finally, the article combines the evaluation methods with democratic decisions by referenda. Switzerland presents an example of referenda held on art policy.
Nonuse value of NPs
Existence value. Even if they don’t directly consume a particular cultural good,
some people appreciate its existence.
Option value. Nonusers may place a positive value on the option to become users
of it in the future, and hence favor its preservation.
Education value. Cultural goods might create intellectual and cultural spillovers
among users and nonusers.
Prestige value. Cultural goods might produce prestige for their region of origin.
Bequest value. Users and nonusers may derive utility from the expected enjoyment
of a cultural good by future generations.
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