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Ates, Onur

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  • Paper Title: Economic and Cultural Valuation of the Hyde Park Barracks Museum
  • Department Affiliation: Economics
  • Supervisor's Names:
    • Professor David Throsby
    • Associate Professor Massimiliano Tani

Purpose:

The aim of this study is to elaborate existing economic valuation methods to capture cultural value.

Originality:

This is the first study to assess the value of a cultural heritage item in both economic and cultural terms.

Design/methodology/approach:

A modified version of willingness-to-pay survey is used.

Findings:

What kind of values are attached to the Museum, and the relationship between economic and cultural value are investigated.

Practical and Social implications:

The role of cultural valuation in public project appraisal has been highlighted.

Keywords:

Economic value, cultural value, valuation