Economic valuation of cultural heritage sites: A choice modeling approach

Andy Choi, Brent Ritchiea, Franco Papandrea, Jeff Bennett

Research output: Contribution to journalArticle

86 Citations (Scopus)

Abstract

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 cafe´ ’ and ‘fine dining’. Advantages of using a mixed logit model are provided and managerial and policy implications are discussed.
Original languageEnglish
Pages (from-to)213-220
Number of pages8
JournalTourism Management
Volume31
Issue number2
DOIs
Publication statusPublished - 2010

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cultural heritage
valuation
parliament
Economics
event
economics
modeling
Values
policy
attribute
shop
Choice modelling
Economic valuation
Marginal value
Cultural heritage
Mixed logit model
Heritage
Parliament
Policy implications

Cite this

Choi, Andy ; Ritchiea, Brent ; Papandrea, Franco ; Bennett, Jeff. / Economic valuation of cultural heritage sites: A choice modeling approach. In: Tourism Management. 2010 ; Vol. 31, No. 2. pp. 213-220.
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Economic valuation of cultural heritage sites: A choice modeling approach. / Choi, Andy; Ritchiea, Brent; Papandrea, Franco; Bennett, Jeff.

In: Tourism Management, Vol. 31, No. 2, 2010, p. 213-220.

Research output: Contribution to journalArticle

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