Economic valuation of cultural heritage sites: a choice modeling approach

Andy Choi; Brent Ritchiea; Franco Papandrea; Jeff Bennett

doi:10.1016/j.tourman.2009.02.014

Economic valuation of cultural heritage sites: a choice modeling approach

Andy Choi, Brent Ritchiea, Franco Papandrea, Jeff Bennett

Research output: Contribution to journal › Article › peer-review

170 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 language	English
Pages (from-to)	213-220
Number of pages	8
Journal	Tourism Management
Volume	31
Issue number	2
DOIs	https://doi.org/10.1016/j.tourman.2009.02.014
Publication status	Published - 2010

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10.1016/j.tourman.2009.02.014

https://openresearch-repository.anu.edu.au/bitstream/1885/55517/2/01_Choi_Economic_Valuation_of_cultural_2010.pdf

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title = "Economic valuation of cultural heritage sites: a choice modeling approach",

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 {\textquoteleft}shop and cafe´ {\textquoteright} and {\textquoteleft}fine dining{\textquoteright}. Advantages of using a mixed logit model are provided and managerial and policy implications are discussed.",

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AB - 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.

U2 - 10.1016/j.tourman.2009.02.014

DO - 10.1016/j.tourman.2009.02.014

M3 - Article

SN - 0261-5177

VL - 31

SP - 213

EP - 220

JO - Tourism Management

JF - Tourism Management

IS - 2

ER -

Economic valuation of cultural heritage sites: a choice modeling approach

Abstract

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