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J Cult Econ (2010) 34:1–26
DOI 10.1007/s10824-009-9110-6
ORI GIN AL ARTICLE
Determinants of historic and cultural landmark
designation: why we preserve what we preserve
Douglas S. Noonan • Douglas J. Krupka
Received: 20 October 2008 / Accepted: 1 October 2009 / Published online: 30 October 2009
Springer Science+Business Media, LLC. 2009
Abstract There is much interest among cultural economists in assessing the
effects of heritage preservation policies. There has been less interest in modeling the
policy choices made in historic and cultural landmark preservation. This article
builds an economic model of a landmark designation that highlights the tensions
between the interests of owners of cultural amenities and the interests of the
neighboring community. We perform empirical tests by estimating a discrete choice
model for landmark preservation using data from Chicago, combining the Chicago
Historical Resources Survey of over 17,000 historic structures with property sales,
Census, and other geographic data. The data allow us to explain why some prop-
erties were designated landmarks (or landmark districts) and others were not. The
results identify the influence of property characteristics, local socio-economic fac-
tors, and measures of historic and cultural quality. The results emphasize the
political economy of implementing preservation policies.
Keywords Heritage preservation policy Landmark designation
JEL classification Z1 R52 D78
This document contains demographic data from Geolytics, Inc East Brunswick, NJ.
D. S. Noonan ()
School of Public Policy, Georgia Institute of Technology, Atlanta, GA 30332-0345, USA
e-mail: doug.noonan@
D. J. Krupka
University of Michigan and IZA, Ann Arbor, MI 48104-2210, USA
123
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