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on Cultural Economics |
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Issue of 2016‒06‒09
two papers chosen by Roberto Zanola Università degli Studi del Piemonte Orientale |
| By: | Sofia F. Franco; Jacob L. Macdonald |
| Abstract: | This paper examines the impact of historic amenities on residential housing prices in the city of Lisbon, Portugal. Our study is directed towards identifying the spatial variation of amenity values for churches, palaces, lithic (stone) architecture and other historic amenities via the housing market, making use of both global and local spatial hedonic models. Our empirical evidence reveals that different types of historic and landmark amenities provide different housing premiums. While having a local non-landmark church within 100 meters increases housing prices by approximately 4.2%, higher concentrations of non-landmark churches within 1000 meters yield negative effects in the order of 0.1% of prices with landmark churches having a greater negative impact around 3.4%. In contrast, higher concentration of both landmark and non-landmark lithic structures positively influence housing prices in the order of 2.9% and 0.7% respectively. Global estimates indicate a negative effect of protected zones, however this significance is lost when accounting for heterogeneity within these areas. We see that the designation of historic zones may counteract negative effects on property values of nearby neglected buildings in historic neighborhoods by setting additional regulations ensuring that dilapidated buildings do not damage the city’s beauty or erode its historic heritage. Further, our results from a geographically weighted regression specification indicate the presence of spatial non-stationarity in the effects of different historic amenities across the city of Lisbon with variation between historic and more modern areas. JEL codes: C21, P25 |
| Keywords: | Spatial hedonic models, Historic amenities |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:unl:unlfep:wp602&r=cul |
| By: | Kai-Lung Hui (Department of Information Systems, Business Statistics, and Operations Management, Hong Kong University of Science and Technology; Institute for Emerging Market Studies, Hong Kong University of Science and Technology); James Kwok (Department of Information Systems, Business Statistics, and Operations Management, Hong Kong University of Science and Technology; Institute for Emerging Market Studies, Hong Kong University of Science and Technology) |
| Abstract: | Kai-Lung Hui and James Kwok, Professor and Associate Professor in HKUST’s Information Systems, Business Statistics, and Operations (ISOM) Department, examine digital copyright infringement in developing economies, and propose 3 simple-yet-effective ways to combat copyright infringement through the use of search engine de-listing policies. |
| Keywords: | piracy, copyright infringement, emerging markets, de-listing, de-indexing, search engines |
| JEL: | G28 |
| Date: | 2016–05 |
| URL: | http://d.repec.org/n?u=RePEc:hku:briefs:201612&r=cul |