Indre Grazuleviciute-vileniske

Non-market Valuation of Built Heritage: Theoretical Context and Methodological Premises Indre Grazuleviciute-vileniske

Preservation of the built heritage is always motivated by its cultural value. However, the possibilities to preserve and use or re-use the heritage object are determined not only by the cultural, but also by the social and economic factors. The economic non-market valuation of built heritage and other cultural goods is rather new and relevant area of analysis. This study deals with the theoretical context and the methodological premises for non-market valuation of the built heritage. The first chapter analyses economic aspects of the built heritage determining the need of its market and non- market economic valuation. The second chapter analyses the need and the possibilities to determine the economic values of the built heritage in the context of the decision-making. The contingent valuation methodology for the assessment of the built heritage is presented in the third chapter. This analysis should be helpful for heritage preservation professionals and for further developing the tools for the economic assessment of the built heritage.