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Determining the Value of Historic Preservation

Posted by: Abhijeet Chavan
Thanks to: Katy Hight
27 September 2005 - 2:00pm

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.

Full Story: The Economics of Historic Preservation
Source: The Brookings Institution, September 27, 2005
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All of that only scratches the surface of what's wrong with this study. The idea that complex urban development patterns and human behavior can be meaningfully studied according to one primary criteria — density — is wrong from the start.
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