nep-cul New Economics Papers
on Cultural Economics
Issue of 2010‒04‒04
two papers chosen by
Roberto Zanola
University of the Piemonte Orientale

  1. Building Sustainable Historic Centres A Comparative Approach for Innovative Urban Projects By Rabinovich, Adriana; Catenazzi, Andrea
  2. Targeting in Advertising Markets: Implications for Offline vs. Online Media By Dirk Bergemann; Alessandro Bonatti

  1. By: Rabinovich, Adriana; Catenazzi, Andrea
    Abstract: Since the 1980s, the promotion of heritage values has gradually become a relevant issue for urban planning. Together with the emergence of new peripheries, inner-city areas and particularly old historic centres, affected by deterioration due to the recession of the last decades, have been the object of study and actions. Consequently, the need to turn the historic centres into areas of development for the market, through legislative measures and investments in infrastructure and services, and the re-evaluation of the heritage value of existing buildings, oscillated between policies which, linked to the mechanisms of economic and cultural globalization, promoted tourism as a source of revenue while striving to find alternatives to gentrification. The renewed priority given to the development of inner-city areas, centred round the rehabilitation of their historic values and central nature, has generated innovative operating modes in the urban environment that seek to reconcile the challenges of modernity, particularly in regard to social inequalities with those of the past, and to rethink the central role of historic centres, their relations with the city and their development in terms of sustainability. The goal of our contribution is to gain a better understanding of the major challenges of the rehabilitation of historic centres within the framework of ‘innovative’ approaches to urban planning, aiming at promoting sustainable living conditions. The analysis is based on an ongoing comparative and transdisciplinary research project, in which the decision-making processes of concrete interventions for the rehabilitation of inner-areas with heritage value are being analyzed in different cities of the world: Buenos Aires, La Havana and Bangkok. The main questions that arose in our analysis concern the contexts allowing for innovation, focusing on those institutional arrangements, which, as modes of governance, were introduced in the interventions, studied.
    Keywords: urban planning, innovative planning, urban governance, decision-making, sustainable development, historic centres, heritage values, access to the city
    Date: 2010
    URL: http://d.repec.org/n?u=RePEc:unu:wpaper:wp2010-21&r=cul
  2. By: Dirk Bergemann (Cowles Foundation, Yale University); Alessandro Bonatti (MIT Sloan School of Management)
    Abstract: We develop a model with many heterogeneous advertisers (products) and advertising markets (media). Each advertiser has a different consumer segment for its product, and each medium has a different ability to target advertisement messages. We characterize the competitive equilibrium in the media markets and investigate the role of targeting for the price and allocation of advertisements across media markets. An increase in the targeting ability leads to an increase in the total number of purchases (matches), and hence in the social value of advertisements. Yet, an improved targeting ability also increases the concentration of advertising firms in each market. Surprisingly, we find that the equilibrium price for advertisements is decreasing in the targeting ability over a large range of parameter values. We trace out the implications of targeting for competing media markets. We distinguish offline and online media by their targeting ability: low versus high. We show that competition by an online medium lowers the revenue of the offline medium more than competition by another offline medium of the same size.
    Keywords: Targeting, Advertising, Online advertising, Sponsored search, Media markets
    JEL: D44 D82 D83
    Date: 2010–03
    URL: http://d.repec.org/n?u=RePEc:cwl:cwldpp:1758&r=cul

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