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Economic Valuation of cultural heritage sites: A choice modelling approach

Choi, Andy; Ritchie, Brent; Papendrea, Franco; Bennett, Jeffrey

Description

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,...[Show more]

dc.contributor.authorChoi, Andy
dc.contributor.authorRitchie, Brent
dc.contributor.authorPapendrea, Franco
dc.contributor.authorBennett, Jeffrey
dc.date.accessioned2015-12-10T22:31:25Z
dc.identifier.issn0261-5177
dc.identifier.urihttp://hdl.handle.net/1885/55517
dc.description.abstractDespite 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.
dc.publisherElsevier
dc.sourceTourism Management
dc.subjectKeywords: cultural heritage; economic analysis; environmental economics; heritage tourism; logit analysis; prediction; tourism economics; valuation; Australasia; Australia Choice modeling; Cultural heritage site; Mixed logit; Nonmarket valuation
dc.titleEconomic Valuation of cultural heritage sites: A choice modelling approach
dc.typeJournal article
local.description.notesImported from ARIES
local.identifier.citationvolume31
dc.date.issued2010
local.identifier.absfor140216 - Tourism Economics
local.identifier.absfor210202 - Heritage and Cultural Conservation
local.identifier.absfor140205 - Environment and Resource Economics
local.identifier.ariespublicationu4055784xPUB331
local.type.statusPublished Version
local.contributor.affiliationChoi, Andy, College of Asia and the Pacific, ANU
local.contributor.affiliationRitchie, Brent, University of Queensland
local.contributor.affiliationPapendrea, Franco, University of Canberra
local.contributor.affiliationBennett, Jeffrey, College of Asia and the Pacific, ANU
local.description.embargo2037-12-31
local.bibliographicCitation.issue2
local.bibliographicCitation.startpage213
local.bibliographicCitation.lastpage220
local.identifier.doi10.1016/j.tourman.2009.02.014
dc.date.updated2016-02-24T10:33:08Z
local.identifier.scopusID2-s2.0-70449730268
local.identifier.thomsonID000272921000006
CollectionsANU Research Publications

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