GAME OF ZONES: THE POLITICAL ECONOMY OF CONSERVATION AREAS

• 成果类型: Article
• 署名作者: Ahlfeldt, Gabriel M.; Moeller, Kristoffer; Waights, Sevrin; Wendland, Nicolai
• 署名单位: Centre for Economic Policy Research - UK; University of London; London School Economics & Political Science; Technical University of Darmstadt; Technical University of Berlin
• 刊物名称: ECONOMIC JOURNAL
• ISSN/ISSBN: 0013-0133
• DOI: 10.1111/ecoj.12454
• 发表日期: 2017
• 页码: F421-F445
• 关键词: property-values; historic designation; cultural-heritage; capitalization; price; LAND; households; Amenities; impacts; schools

摘要

We develop a simple theory of the conservation area designation process in which we postulate that the level of designation is chosen to comply with interests of local homeowners. Conservation areas provide benefits to local homeowners by reducing uncertainty regarding the future of their area. The restrictions, however, impose a cost by limiting the degree to which properties can be altered. In line with our model predictions we find that an increase in preferences for historic character by the local population increases the likelihood of a designation, and that new designations are not associated with significant house price capitalisation effects.