Article: The Economics of Historic Preservation

[Bob van Wegen]

Determining the Value of Historic Preservation

27 September, 2005

Randall Mason examines the difficulties of evaluating the economics of historic preservation, analyzing various approaches and the literature in the field. The methods of determining the value of historic preservation vary widely, and several challenges persist in applying economic methods to the field. This discussion paper, which is followed with an extensive and annotated bibliography, reviews the current findings on the value of historic preservation and the methods used to assess that value, making the case for needed improvement if the economics of preservation is to more objectively and rigorously quantify the effects of historic preservation.

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Source: The Brookings Institution, Sep 27, 2005