The valuation of assets that do not have a market include those that are part of the cultural heritage of a territory. The objective of this research is to estimate, through the Contingent Valuation (CV) method, the economic value assigned by residents and visitors of the municipality of Lorica, Córdoba to its Historic Center (CHL). I find that people over 50 years of age, residents of the sector and with the highest monthly income are those who declare their preferences for Availability to Pay (DAP) for a hypothetical project for the conservation and maintenance of the CHL with an average value paid only once per $ 5,489 per year per person. Additionally, when mentioning a matched contribution by an NGO, I find that people increase their DAP, but the values to pay for the same project decrease. Those with the highest monthly income are the ones who show the highest economic value for the CHL.
publication date
May 21, 2021 3:27 PM
Research
keywords
Economic valuation of the Historic Center of Lorica Córdoba in Colombia
Estimation of economic value using the Contingent Valuation method (CV)
Financing projects for assets of cultural and heritage interest
Hypothetical project for the conservation and maintenance of the historic center of Lorica in Córdoba Colombia
