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Valuing Cultural Heritage

Applying Environmental Valuation Techniques to Historic Buildings, Monuments and Artifacts

Edited by Ståle Navrud and Richard C. Ready

What value do we place on our cultural heritage, and to what extent should we preserve historic and culturally important sites and artefacts from the ravages of weather, pollution, development and use by the general public? This innovative book attempts to answer these important questions by exploring how non-market valuation techniques – used extensively in environmental economics – can be applied to cultural heritage. The book includes twelve comprehensive case studies that estimate public values for a diverse set of cultural goods, including English cathedrals, Bulgarian monasteries, rock paintings in Canada, statues in the US, and a medieval city in Africa.
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Chapter 10: Component and Temporal Value Reliability in Cultural Goods: The Case of Roman Imperial Remains Near Naples

Applying Environmental Valuation Techniques to Historic Buildings, Monuments and Artifacts

Patrizia Riganti and Kenneth G. Willis


Patrizia Riganti and Kenneth G. Willis INTRODUCTION Cultural goods have both use and non-use value. People consume cultural goods as visitors to cultural and historic sites, and may be willing to pay along with non-users to ensure their continued existence and availability for future generations. Cultural goods such as a prominent archaeological site often comprise many elements1 that are partly complements but are also substitutes in consumption. In preserving archaeological sites it is important to derive some notion of the value that the general public places on the different elements of archaeological sites to enable the sites to be managed more efficiently. This study explores whether values derived through the contingent valuation (CV) method for different components of an archaeological park in Italy are consistent, and whether the general public’s values for the archaeological park remain reliable over time. The study is based upon one of the most important Roman sites in Italy: Campi Flegrei,2 an archaeological park west of Naples. Campi Flegrei is an important area of Roman remains which, because the sea level is now higher than that in ancient Roman times, lies partly under the sea where some remains are still located, uncatalogued and unresearched. When compared to Pompeii this site is not as well preserved, as the integrity of the ancient Roman remains has been fragmented by the urban development which has taken place through centuries. However, the glorious past can be perceived when looking at the importance of the remains, which reflects the fact...

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